Barb Schlinker The Real Estate Voice

Barb, buyers seem to have much fewer homes to choose from, why are there much fewer homes on the market?Factors:Rising Home PricesRecord Low Interest Rates, yetInventory of Available homes At RECORD LOW, 665 homes on the market. Compare that to 1 year ago there were over 2050 homes to choose from in the Pikes Peak RegionThat’s a 35% DECREASE in inventoryBuilders cannot build fast enoughSupply of Homes vs SalesMany home buyers are having to increase the price range they are shopping in. They CAN because interest rates are at RECORD LOW numbers… VA 2.25% wow! Conventional: 2.5% OMG$435K 5% down Total payment = $1873 Conv, $1821 VA For our beloved military folks, that payment is less than BAH in most cases and they can buy ZERO down.EX Lets take an average sales price now: We are talking Barb about the low available housing inventory, what are some other things that are causing fewer people to put their homes up for sale? 31% worried about their Finances Sellers Think Waiting = More $$$ What they may be buying o