Home Inventories at 4.6-Month Supply

Thomas Gilliam Blog , Home Inventories Leave a Comment

Around the country especially in Oakland County and cities such as Novi, Northville, Farmington Hills and West Bloomfield home inventories is the lowest we have seen in quite some time. The signs of home buyer’s frustrations are clear, but with consumer confidence is at the highest level in over a decade and with interest rates still under 4%, new programs available for down payments as low as 3%, and you have an attractive market for buyers. Buyers demand for housing remains twice as high as this time last year, so what’s really going on with home inventories? NAR’s Chief Economist, Lawrence Yun states about Low Home …