Real estate is finally moving again as the US housing market finally turns a corner. Prices, however, have not crept back up to the levels they were at with the last housing bubble, but they are on an upswing after several years of decline. The recovery of the housing market will have far-reaching impacts in the coming years across the U.S. and international markets as U.S. consumers increase their spending on buying, renovating, furnishing and maintaining their homes.
The inventory problem has been exacerbated by the plunge in home prices since the go-go years. Many people who bought at the top of the cycle are so deeply underwater, they can’t get the price they need to sell and are therefore not bothering to put their homes on the market. Inventory continues to shrink and buyers are now faced with a lack of listings and are snatching up homes the moment they come on the market.
So, sellers – with all this data, what’s holding you back from listing your home? Are you waiting for prices to rise a bit more? Are you too underwater? What would make you finally put your home on the market? Despite the number of Americans who have been hurt financially by the housing crash, the desire to own a home remains strong.