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  • Industry Experts Agree: Housing Supply Too Low

    Wednesday, April 1, 2015   /   by Marty Gum

    Industry Experts Agree: Housing Supply Too Low

    Industry Experts Agree: Housing Supply Too Low | Keeping Current Matters

    Last week, we reported on the lack of housing supply and how that was impacting the real estate market. Today, we want to let you know what other industry experts are saying.

    Daren Blomquist, RealtyTrac Vice President:

    “It’s kind of a seesaw right now between supply and demand. One of the reasons for fewer sales is not so much a lack of demand but a lack of supply, especially in the price range the majority of buyers were looking for.”

    Diana Olick, CNBC’s Realty Check:

    “Total sales are still running below expectations for the year. Don't blame winter weather, though. Blame the lack of supply.”

    Bill McBride, Founder of Calculated Risk:

    “Inventory is still very low (down 0.5% year-over-year in February). This will be important to watch over the next month at the start of the spring buying season.”

    Lawrence Yun, Chief Economist at the National Association of Realtors:

    “Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices to near unsuitable levels. Stronger price growth is a boon for homeowners looking to build additional equity.”


    “The National Housing Trend Report shows that inventory has decreased 10.9 percent year over year.”

    And some experts are actually calling it a “seller’s market”


    “Tight inventory is a main reason the ball is still in the sellers' court.”

    Bill Banfield, VP of Quicken Loans:

    “We’re a bit low on the supply-side which could force prices up for buyers, further hammering home that we’re in a seller’s market.”

    Marty Gum, Broker/Owner Berkshire Hathaway HomeServices Lake Ozark Realty:

    While the number of new listings has declined, the number of homes sold has increased by 5.9%. This is causing an upward push on the market at Lake of the Ozarks