End In Sight For Historic Housing Shortage

Dated: 04/13/2018

Views: 60

Image title

One of the biggest challenges facing buyers in the Whatcom and Skagit County markets right now is actually finding a home. According to Realtor.com's recent Housing Shortage Report, the US is experiencing its most severe, worst inventory shortage in twenty years, and we're certainly feeling it here in Bellingham. That lack of inventory is driving up prices, making it an ideal market for sellers. In Whatcom and Skagit Counties this past year, we witnessed many homes going for well above asking price because there simply isn't enough supply to meet the demand.

But it looks like the end of this historic housing shortage may by on the horizon. In a recent article on housing trends, the economics team at Realtor.com predicted the second half of 2018 would see a major uptick in inventory thanks to new construction. And according to the same article, if inventory increases as predicted, that could mean the first net inventory gain in over three years.

  Facts And Factors What Affects Home PricesWhy You Need An Agent For New Construction


The Takeaway

If you're thinking about selling, now is the time to make a move. When the market cools down and there are more homes available, buyers are going to have more options—and the price you could get for your home in fall 2018 may be significantly lower than what it would fetch today.

Latest Blog Posts

Why Should You Use A Professional To Sell Your Home

When homeowners decide to sell their houses, they obviously want to get the best possible price for their home with the least amount of hassles along the way. However, for the vast

Read More

Closing On A House Checklist 6 Things Home Buyers Must Do Before They Move In

Welcome to your Closing on a House Checklist—a rundown of everything home buyers need to do in the 11th hour before they get their hands on those keys. Because when you're approaching the

Read More

7 Things That Can Go Wrong If You Hire The Wrong Real Estate Agent

Buying a home is the biggest investment you’ll likely ever make, and it has all sorts of implications for your personal and financial future. This is why it’s so important to work with the right

Read More

Open Houses This Week In Bellingham

Our team has many open houses going on this week, come by and check out our listings on Bennett Drive, Crestline Drive, and Waschke Road in Bellingham, and our listing on Prospect Street in Sedro

Read More