Inventory Pushes Prices Up! By: Valencia Real Estate Agent Alex MeguerditchianBy
The nations housing inventory is so low that demand is starting to affect the prices of homes in a positive way! Great news for the battered housing market from the post bubble era, the U.S had 2.37 million for sale at the end of March. That’s down 22% from a year ago and 41% from the peak in mid-2007. First quarter sales were up 5.3% from a year ago, the combination of improving sales and declining inventories is helping the market substantially. Many housing economists predict that housing prices will stabilize this summer giving much needed hope to the American people. As prices finally rise from six years of declines, sellers who have kept off putting there homes on the market will list there homes in increasing levels! Optimism is slowly drifting back into the housing market and the light is starting to shine at the end of this horrible post-bubble tunnel!