Navigating Limited Housing Inventory in 2024 amidst Rising Mortgage Rates
Wednesday, 10 April 2024, 23:00
Hoping Real Estate Inventory Will Increase Soon? Here's Some Bad News
The U.S. housing market has been starved for inventory.
There's a reason the past couple of years have been tough ones for prospective home buyers. Not only have mortgages been expensive to sign due to elevated borrowing rates, but there's been a massive shortage of homes on the national market.
Housing starts fell in December
- New construction activity, fell by 4.3% in December compared to November
How to buy a home when there's limited inventory
- Consider being open to different neighborhoods
- Consider properties that need work
Remember, in time, mortgage rates are apt to come down, which could lead to an uptick in inventory.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.