Housing Challenge Or Housing Opportunity It Depends

Dated: October 27 2021

Views: 176

The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically.

There are many reasons for the limited number of homes on the market, but as you can see in the graph below, we’re well below where we’ve been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale.

Image title


The Opportunity 

This lack of homes for sale is creating a challenge for many buyers who are growing frustrated in their search. On the other hand, this is a huge opportunity for sellers as low supply is driving up home values. According to CoreLogic, the average home has appreciated by more than $50,000 over the past year. And for many homeowners, that’s opening new doors as they re-think their needs and use their equity to move up or downsize.

According to Dr. Frank Nothaft, Chief Economist at CoreLogic:

“The average homeowner with a mortgage has more than $200,000 in home equity as of mid-2021.”

Today, many sellers are taking advantage of low interest rates and the equity they have in their homes to make a move.

Bottom Line

The biggest challenge in real estate is the lack of homes for sale, but this challenge is also an opportunity for sellers. If you’re thinking about selling your house, now is the right time to give me a call.

Blog author image

Richard Bradley

Richard Bradley specializes in residential real estate sales and property management services. I am committed to helping homeowners, buyers & investors with their real estate needs. I spend my time in....

Latest Blog Posts

What Are Closing Costs

Don’t Get Caught Off Guard by Closing CostsAs a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need

Read More

Housing Challenge Or Housing Opportunity It Depends

The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we

Read More

Oct 13 2021 68168 1

The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3

Read More

Can You Define These Key Terms In Our Current Housing Market

Pop Quiz: Can You Define These Key Terms in Today’s Housing Market? [INFOGRAPHIC]Some Highlights The language of buying and selling a home may sound scary at first, but knowing how key terms

Read More