As the maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is creating a mismatch between supply and demand.
NAR also just Reported that the actual number of homes currently for sale stands at 1.28 million, down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with 2.3 months supply available at the current sales pace. In a normal market, that number would be 6.0 months of Inventory – significantly higher than it is today.
Bottom Line
The real estate market is entering the year like a lion. However with Homes going into forebearance and the impending mass evictions the market may be flooded with people looking to rent and many houses available on the market driving down the prices of housing.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Mighty Mike Reid do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Mighty Mike Reid will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
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