Every year, our very own North Eastern Group Realty agents gather together for some friendly competition with our annual putting challenge. Earlier this month, we came came together for good food, drinks, and fellowship and as always, it was a blast. The agents were divided into two teams, the Thoroughbreds and the Arabians, and this...
According to George Ratiu, senior economist for Realtor.com®, “The mid-tier of housing represents nearly 60 percent of homes for sale on the market, making it a solid indicator of how tight inventory levels are in the U.S. After more than a year and a half of solid growth in this segment, we’re seeing inventory levels stall out and flat-line. If, or better yet, when inventory in this segment begins to take a downturn, the vast majority of homebuyers are going to feel its effects as their options rapidly dwindle.
While inventory for homes in the $750,000 range has increased by 4.7% since last September, economists note that “if strong homebuying demand, fueled by lower interest rates, continues to persist into the fall, the inventory of homes in this upper-tier price range also could see declines by February of the coming year.”
Finally, Ratiu states, “While lower mortgage rates and the arrival of fall promised a reprieve, conditions continue to tighten as demand remains strong. September inventory trends, especially in the mid-market, may be the canary in the coal mine that we could be headed for even lower levels of inventory in early 2020.”
Check out the original article, posted here.