In 2013 limited housing inventory was blamed on underwater mortgages, struggling affordability and difficulty getting mortgage financing. In 2014 homeowners not ready to walk away from limited equity and others with sub-4% interest rates topped the charts for reasons nobody wanted to sell their homes. 2015 may have been about people not being able to afford a move-up and the still lingering hangover of underwater mortgages.
And the blame forecast for the lack of inventory in 2016 already includes some of the usual suspects; move up buyers who can’t find move up homes and homeowners who are underwater or just barely above water on their mortgages. Add to that mix the many homeowners who actually have equity and can move up but are staying put and renovating instead.
It appears that inventory woes are poised to hamper housing market activity as we stand at the threshold of the Spring market. So what do we do? What can we do? READ MORE