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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. In other markets, including the Cleveland district, low inventory levels hindered home prices from dropping further.

Inventory 371
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Affordability boosts Indianapolis housing market 

Housing Wire

According to Zillow ’s annual predictions, Indianapolis will be the fourth-hottest real estate market of 2024, thanks to its solid economy, housing inventory, affordability and pent-up demand. The top three spots in the ranking were Buffalo, New York, and Cincinnati and Columbus, Ohio. The real estate market As of Jan.

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Can we still avoid a recession?

Housing Wire

In addition, prices paid for transportation of products from China to the U.S. Now, this stressful aspect of transportation costs is gone and the fear of a downturn in the freight industry is taking hold. However, the biggest component of inflation isn’t the transportation cost of goods from China to the U.S.,

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Housing inventory nationwide flipped from oversupply to undersupply about a dozen years ago when consumers and the banking industry began to slowly rebound financially from the Great Recession. America’s shortfall is most acute with the most vulnerable, as affordable housing inventory has been shrinking for decades.

HOA 36
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A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

Also known as a mother-in-law or cottage, the dwellings can offer viable housing to younger buyers seeking to save for their first home or enable seniors to age within a familiar neighborhood. The market recalibration continues across King County with a sharp drop in new listings, Pending sales and closings while prices decline.

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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

I also heard the same question from buyers this year. While early to mid-spring was frenzied – featuring waves of cash-carrying buyers with their contingency-absent offers – the housing environment settled down to a somewhat civilized pace by September and likely for the next few months. And that answer appears to be “yes.”

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PREDICTIONS, PARKING, POLLUTED PIPES

Will Springer Realtor

Inventory continues to shrink to levels not seen since the days of disco, shag carpets and pet rocks. Prospective buyers this year have mostly watched the housing market pass from the sidelines. That, in turn, will finally move the market forward with additional sellers and buyers. at this time in 2023 (quite optimistic!).