Is this why there are so few homes for sale?
One of the puzzles of the housing market has been why there are so few houses available for sale. Many reasons have been proffered: buyers reluctant to trade up, impact of student loan payments on the ability to obtain a mortgage, boomers holding off selling while they recover from the Great Recession, low levels of new home construction, etc.
A new report Many starter-SFH homes have shifted to rentals from Fannie Mae reveals another reason: that nationally the stock of owner-occupied starter homes declined by more than 1 million units between 2005 (roughly the peak of the housing boom) and 2013 (the most recent year for which data are available), whereas the inventory of renter-occupied starter homes rose by approximately 2 million units during the same period (see chart). Starter homes – defined as SFHs with less than 2,000 sf of floor area – accounted for two-thirds of the growth in all single-family detached rentals during the period.
If you are considering selling your home please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer.
Not sure which broker to use to sell your home? Read Which broker should I choose to sell my house?
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated