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!
Don’t forget that you can also enjoy the show as a video on YouTube!
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
