Crown Gaithersburg MD | The Impact of Tight Inventory on the Housing Market
As Gaithersburg has developed over the years, many neighborhoods are now blended with one and another without any distinction or personalities.
Not in CROW, the newest and most vibrant community in Gaithersburg MD
Located next to Rio, this new and unique neighborhood is separate in four groups
* Downtown Crown
* Crown West
* Crown Central
* Crown East
If you are looking for city-living style with a flair of urban village, The Crown community has everything to offer and more.
There is even a direct Metro Shuttle between the community and Shady Grove Metro Station to connect you directly with Washington DC and its surroundings,
Today, I would like to talk about The Impact of Tight Inventory on the Housing Market
The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.
Here are the thoughts of a few industry experts on the subject:
National Association of Realtors
“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30 consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down from 4.0 months a year ago.”
Joseph Kirchner, Senior Economist for Realtor.com
“The increases in single-family permits and starts show that builders are planning and starting new construction projects, that’s a good thing because it will help to relieve the shortage of homes on the market.”
Sam Khater, Deputy Chief Economist at CoreLogic
“Inventory is tighter than it appears. It’s much lower for entry-level buyers.”
If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.
If you have any questions about the Crown Plaza, Gaithersburg MD, the schools, amenities or the surrounding community, don’t hesitate to give us a call at 301-246-0001 We will be happy to help you. We specialize in Gaithersburg MD and our agents also live here.
To reach us, please call 301-246-0001
Or send us an email to: info@ReallyNiceHomes.com
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www.99SOLD.com - Call or text 240-426-5754 for more information.