This article comes from https://www.cnbc.com and it talks about shortage of homes and how it will probably continue.
"Due to the shortage, prices for new and existing homes are rising at a record pace. For new construction, which has always come at a price premium, homes with a median value of $300,000, which is considered relatively affordable, represented 32% of builder sales in the first half of 2021, down from 43% during the same period in 2018."
Inflation and building material cost will not help the economy or builders catch up with the demand. According to this article we still have a long way to go get the inventory corrected for medium priced homes.
What does that mean for an investor or homeowner? If your home is a medium priced property in your area you may be sitting on gold. I know what you're thinking. How will I be able to buy another property?
There are still good deals to be found if you put a little work in them. If a property is not totally decked out the sale price will be less. Knowing how to find those deals after you sell your home needs an experienced agent that actually knows how to locate these types of properties.
I had clients that I sold their home to earlier this year needed a home they could add some love to. We located that home at a great price and they are very excited with the job ahead of them and their equity position.
Getting a nice property to live in needs an experienced Realtor.
Call me (Brett) 216-703-5740 Fathom Realty or sign in below
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Thank you