Home Buyers

Buyers See Benefit in Higher Housing Inventory and Lower Prices

As the amount of housing inventory has increased and prices have fallen, some buyers have become more eager to look for potential homes to purchase. This follows several months of rising interest rates and record-high inflation, which have caused the housing market to cool and prices to drop overall. While this may be less fortunate for some sellers, it could be a good time for reticent buyers to start getting into the market to take advantage of relatively low prices.

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Housing Supply Up By 19%, But Inventory Issues Remain

According to recent reports, the number of homes available for purchase is up 19% overall across the country, compared to the same time last year. Despite this, however, housing prices remain high, due to enormous demand for housing, especially affordable housing. However, some experts are predicting that these high prices will not last much longer, and as more inventory enters the market, sellers may begin to lower their prices to compete.

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