flexiblefullpage - default
Currently Reading

March Housing Inventory a 'Serious Mismatch'

Advertisement
billboard - default

March Housing Inventory a 'Serious Mismatch'


April 27, 2018
Salt lake, Chott el Djerid, Tunisia
Photo: Unsplash/Nace Skoda

Zillow’s market report for March 2018 found that the pool of homes for sale is shrinking, and that more than half of the available inventory is on the pricier, high end of the market.  

The national total inventory of homes for sale dropped 8.6 percent last month from March 2017, and marked the 38th month of year-over-year inventory decline, per Zillow's report. First-time and lower-income buyers are expected to feel the most pain, as they are mostly seeking more affordable, entry-level homes where inventory is tightest. Additionally, that segment's supply is drying up, and prices are rising faster than any other. Entry-level inventory dropped 15.3 percent YOY in March.

There’s a serious mismatch in the U.S. housing market right now: The majority of homes available to buy aren’t the kind of homes the majority of buyers are seeking. And the limited inventory of those more sought-after homes is contributing to their more rapid appreciation. The typical, middle-of-the-road U.S. home appreciated 8 percent year-over-year in March, according to the Zillow Home Value Index, to a median value of $213,146.

Read more

Advertisement
leaderboard2 - default

Related Stories

Market Data + Trends

Vacation and Investment Home Market Insights

A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision

Affordability

How Much Income Do First-Time Buyers Need to Afford the Average Home?

The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas

Affordability

What Is the Relationship Between Urban vs. Suburban Development and Affordability?

A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Sure there are challenges, but overall, Pro Builder's annual Housing Forecast Survey finds home builders are optimistic about the coming year

Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.