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Time to get into an existing home before there's even less out there.

March 21, 2018

The shortage of properties for sale is creating a challenge for would-be homebuyers. As sales listings have steadily declined, prices have been climbing at the same time as a stronger job market has elevated demand — and, also, competition — for purchasing homes. Higher mortgage rates this year might also cause even fewer people to list their homes for sale, which would make the current supply squeeze worse.

 

First-time buyers appear to face the greatest obstacles from the decline in listings, according to an analysis by the real estate company Trulia. Starter homes have seen the steepest price increases as well as sharp drops in inventory — and a greater proportion of them are fixer-uppers that require additional investment from buyers.

 

To read the full story visit: https://www.msn.com/en-us/money/markets/sales-of-existing-homes-rebound-despite-rising-prices/ar-BBKvWCe?ocid=spartanntp

 

There are still plenty of existing homes in the area. Call us today and get pre-approved (OAC) then start your journey of the home buying process. 801-465-3422, Ryan 801-318-0486, John 801-836-7584.

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