Scott Your Broker

NEWS FLASH! If you think homes are less affordable today then you are wrong! In case you haven't heard, housing inventory is at an all-time low. Realtor.com just  reported that there are 39% fewer homes for sale today that there were last year.   At the same time, buyer demand remains strong.  In a recent newsletter, research analyst Ivy Zelman explained: "Although the headwind of severe supply constraints in most markets has contributed to slight moderation in seasonally-adjusted and year-over-year new pending contract growth for two consecutive months (albeit still growing strongly), the underlying strength of buyer demand, particularly for this time of year, remains apparent." Let me simplify what this long-winded expert just said. Low inventory of homes for sale and high buyer demand is driving the market.  Whenever there's a shortage in the supply of an item that's in high demand, the price of that items increases. That's exactly what's happening i