Housing Inventory Is About To Nose Dive!

 

Will home prices jump?

The best information we have right now indicates that a dramatic
crash in home inventory is very likely as we move through 2020.
There are only two places that homes for sale come from. First,
is new construction. We are seeing a big drop off in new
construction that even goes beyond what the worst expectations
were leading into March. And remember, those are number for
MARCH! April is likely to be even more depressing! But wait, that
is only half of the real estate inventory story.


The other half of our inventory question involves existing homes.
If we don't see new construction coming anywhere close to demand,
then we have to rely on current home owners to come into the
market to sell their home. Frankly, that does not look to be a
likely scenario!


In todays show, we look at all the data to find out where we are
and where we are likely to be later this year and into 2021!
Articles Used In Todays Show:


https://www.cnbc.com/video/2020/04/16/housing-starts-march-squawk-box-breaking-news.html


https://www.cnbc.com/2020/04/17/us-housing-starts-worst-month-since-1984-what-traders-see-ahead.html


https://magazine.realtor/daily-news/2020/05/05/where-housing-inventories-are-falling-fastest


https://magazine.realtor/daily-news/2020/05/05/more-banks-halt-helocs


https://www.calculatedriskblog.com/2020/05/las-vegas-real-estate-in-april-sales.html


https://www.calculatedriskblog.com/2020/05/seattle-real-estate-in-april-sales-down.html


https://www.cnbc.com/2020/05/07/consumer-confidence-in-housing-falls-to-lowest-level-since-subprime-crash.html



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