Avenue Real Estate Group | St. Louis Property Management

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The bottom line: Housing prices are likely to remain high and rising for a while yet.

From a recent article from Axios.com, the graph below shows national housing inventory over the past 20+ years. Leading up to the bubble busting 2008 inventories of homes was between 2 million and 3 million homes. After the bust inventory rose to over 4 million homes. Today we see a record low 1 million homes available for sale.

https://www.axios.com/housing-boom-bubble-mortgage-50b573de-94f0-4d7c-a34d-b2b40d9dc664.html

In the St. Louis real estate market we are also seeing a record low number of homes available but the downward curve is making a turn and we hope the new supply will help absorb backed up demand for homes.

  • In a recent article, Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), discussed the state of today’s housing market.

  • When addressing whether or not today’s high buyer competition and rising home prices are evidence of a housing bubble, Yun said that this “is not a bubble. It is simply lack of supply.”

  • Today’s housing market is healthy, and rising prices are driven by real buyer demand. Let’s connect to talk about the best ways to navigate such an energetic market.