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No ‘time to celebrate’ as inventory will dry up

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Buying a home today can be more difficult than ever. Securing homes is becoming difficult for some buyers as the inventory of available homes does not meet demand.

“Inventory is depleted. I mean, we’re getting more inventory. But we’re seeing that we’re up from a very low base so far.” (video above), “It’s not the time to celebrate.

Over the past few years, inventory shortages have sparked bidding wars, staving off surprises and boosting home prices. However, the housing market has been put on the brakes as central banks continue to raise interest rates. Home loan interest rates soar Home prices still remain out of reach, but from historic lows.

in the meantime Rising house prices Slowing down from pandemic-era frenzy, stocks have recovered. But not many. Although still down nearly 42% compared to 2019, According to ZillowNationwide, 155,000 homes were sold in September, up 26.9% year-on-year. Realtor.com was found.

Since the recent recession, buyers whose prices are off the market have retreated to the sidelines and sellers have become reluctant to list their homes. Sellers are less active than last year, as homes sold fell by 9.8% on a year-on-year basis.

“And now, with the sellers pulling back, we’re going to own more and more homes,” Ruud said.

During an open house by Prudential Realtor Tracy Do, interested buyers, realtors and brokers will be able to view this 1920s California bungalow in and around Highland Park for a steady stream of visitors, listed for $379,000. create a flow. Housing inventories hit the lowest level since the bubble period. So buyers packed open houses and rushed to bid before the property was listed. A bidding war is raging, with agents vying hard to represent the few sellers in existence. (Photo by Allen J. Schaben/Los Angeles Times via Getty Images)

This means prices will become more sticky as demand remains high despite these rate hikes and supply lags, he said.

Meanwhile, builder sentiment fell for the ninth straight month, reaching its lowest level since May 2014 outside of spring 2020. According to the National Association of Home Builders (NAHB). Nearly a quarter of homebuilders also reported lower home prices, up from 19% in August.

“They are stopping construction right now. Rood added.

Dani Romero is a reporter at Yahoo Finance. follow her on her twitter @daniromerotv

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