One of the major questions real estate experts are asking today is whether prospective homebuyers still believe purchasing a home makes sense. Some claim rapidly rising home prices are impacting demand and, by extension, leading to the recent slowdown in sales activity.
However, demand isn’t the real issue. Instead, it’s the lack of supply (homes available for sale). An article from the Wall Street Journal shows this is true for new home construction: “Home builders have sold more homes than they can build. Now they are limiting their sales in an effort to catch up.”
Danielle Hale, Chief Economist for realtor.com, also explains that, in the existing home sale market, the slowdown in sales was a supply challenge, not a lack of demand. Responding to a recent uptick in listings coming to market, she notes:
. . . if these changing inventory dynamics continue, we could see a wave of real estate activity heading into the latter part of the year.”
Again, the buyers are there. We just need houses to sell to them.
At The Keyfinders Team, we are doing our part to remedy this lack of supply. Here are just a few we have "in the works":
*Remodeled, gated with outdoor kitchen & pool on 3 pre-subdivided acres in Central
*Updated executive home along Shenandoah Trails in quiet cul-de-sac with acreage.
*Three bedroom, refreshed 2,400 s.f. home in Westminster Place
*Shenandoah Estates 4BR/3BA with vaulted ceiling
*Broadmoor estate with 5 bedrooms, pool, tennis courts
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