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New Home Supply Hits 14-Year High
Dated: October 20 2022
Views: 56
If you are on the fence about selling just remember this simple rule whether you are in Southwest Florida or any other part of the country. Buyers compete with buyers and sellers compete with sellers. When there is more inventory on the market the prices for homes will fall. It is still a great market here in Naples if you are buying or selling but ……. 
The low supply of homes for sale has been the housing market’s primary issue for years now. That’s why an unexpectedly positive report from the U.S. Census Bureau and the Department of Housing and Urban Development is an encouraging sign for home buyers. The report shows the inventory of new homes for sale in May was at a 14-year high, with a 7.7-month supply available at the current sales pace. That’s good news for home shoppers, since a growing inventory of available new homes is the fastest way to balance the market. It not only provides buyers with more houses to choose from, but also helps relieve upward pressure on prices. Of course, the number of homes for sale is still much lower than it needs to be, but the recent gains may be a sign that the housing market is trending toward better balance and fewer home price spikes. Also in the report, new home sales increased 10.7 percent in May from the month before. The improvements were unexpected, with economists polled prior to the release predicting sales would fall month over month.
SOCIAL MEDIA EDIT
The supply of new homes available for sale reached a 14-year high in May, according to newly released numbers. The improvement could help balance the market and slow increasing prices.
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Your Luxury REALTOR®, Trusted Advisor — Quintessential Naples Team at Downing-Frye Realty®Michael "Mike" Downer is the REALTOR® you want in your corner when buying or selling real es....
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