What Forces Are Driving the Housing Market?

What Forces Are Driving the Housing Market?

by Brandon Miller on May 19, 2021

Real Estate, Housing, Financial Planning, Estate Plan

Recently, you may have seen reports that a record-low number of homes are available for sale—roughly 1.03 million nationwide. If you compare that to the average number of homes for sale during the past 10 years, it's no surprise that many hopeful homebuyers are having issues securing a home.1 

Lack of inventory. There are a few major differences between 2007 and now, however, but the biggest difference? What we’re seeing now isn’t a bubble; it's simply a lack of inventory.

It’s a seller’s market. In many ways, this may be the friendliest market we’ve seen in quite a while for home sellers. Right now, nearly half of homes are selling within roughly a week or less. At the same time, median prices are rising at a phenomenal rate, and national prices, in general, have increased 17.2 percent over last year.2

Why now? Listings are skyrocketing for a number of reasons. Many experts believe the continued low mortgage rates, a pandemic-era construction slowdown, and an increase in money available for a down payment are all factors.

In this hyper-competitive market, many people are thinking of taking advantage of the situation by listing a property or home. If this sounds like you, reach out to us at hello@briofg.com. We may be able to put you in touch with a housing professional who can offer some guidance and support.
  
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Brio Financial Group is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Brio Financial Group and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Brio Financial Group unless a client service agreement is in place.  
  
Citations:
1. NAR.realtor.com, March 22, 2021 
2. Axios.com, April 11, 2021 
3. Axios.com, April 11, 2021

This material presented by Brio Financial Group (“Brio”) is for informational purposes only and is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy, or investment product.  Facts presented have been obtained from sources believed to be reliable, however Brio cannot guarantee the accuracy or completeness of such information, and certain information presented here may have been condensed or summarized from its original source.  Brio does not provide legal or tax advice, and nothing contained in these materials should be taken as legal or tax advice. Advisory services are only offered to clients or prospective clients where Brio and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Brio Financial Group unless a client service agreement is in place.