Where have all the houses gone?

Part II of this article series answers several common agent questions about inventoryProperties available on the market through the multiple listing service (MLS)., like: why can’t I find homes for my buyer-occupant clients? Will low housing inventoryProperties available on the market through the multiple listing service (MLS). pull us out of the recovery?

first tuesday also writes a prescription for California’s housing recovery.

For a synopsis of what is needed to foster organic buyer-occupant demand, see Part I of this article series.

Where is the inventoryProperties available on the market through the multiple listing service (MLS). going to come from?

In case you remain unconvinced lack of buyer-occupant demand is the primary obstacle blocking California’s real estate recovery, and instead are concerned by the low housing supply, not to worry. The housing inventoryProperties available on the market through the multiple listing service (MLS). is not about to dry up anytime soon.

When inventoryProperties available on the market through the multiple listing service (MLS). is actually lacking you will observe two reactions:

• home prices rising for a sustained period, (beyond six months); and
• positive and negative equityThe condition of a property owner owing more on a mortgage than the current fair market value of the encumbered property. owners listing their home for sale, brought out by rising prices.

Neither is true today. In the current bumpy plateauA recovery characterized by a prolonged pattern of short-term increases followed by short-term decreases in home sales volume and pricing, resulting in little or no long-term recovery trend. recovery, home prices rise and fall from month to month, with no signs of a continuous upward recovery. Similarly, distressed sales still dominate the market, as equity levels have not risen sufficiently to buoy traditional sales.