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Reasons for Low Housing Inventory: Jeff Rutt’s Take The unavailability of sufficient homes for sale in real estate follows demand and supply curves, resulting in a higher cost for each unit. Nonetheless, what may lead to low housing stocks while there are many prospective home buyers out there? Here’s how to explain low housing inventory from the perspective of Jeff Rutt from Keystone Custom Homes: Insufficient Equity To be eligible to sell a property, a person is expected to have a higher stake in its ownership. However, studies suggest that 20% of people still paying their mortgage have not acquired enough equity on their real estate to be able to sell. Due to these homes not being ready for sale, you should expect a low housing supply.
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When a lot of people don’t have an issue with selling their property except for the fact that the timing is not right to make profit, you’re going to have less homes on sale in the property market. About 10 years ago, millions of homes were bought at the peak of the property boom. Very many people that purchased properties at that time are to date waiting for the right moment to make profit, even if their mortgages are not underwater. That’s another reason for housing shortage that leads to higher prices. Buyers Refrain Obviously, nobody would build homes for sale when a lot of buyers are holding off, and that can impact on housing supply. As per Jeff Rutt, issues like price fluctuations and lack of enough homes have resulted in buyers, who subtly influence the property market, holding off their aspirations to buy. The Allure of Keeping Investment Properties Many people are raking in good returns as landlords from the impressive rental income they receive each month. Still, properties always have the potential of rising in value, and that means higher future valuations when selling. Therefore, persons that purchase residential investment properties, for instance single-family homes, are not likely to list these properties in the near future. Once more, that’s a way to explain low housing inventory. Insufficient Property Developers Due to the lack of sufficient property developers, there’s a shortage of housing inventory, Jeff Rutt from Keystone Custom Homes suggests. It follows that the 2007 financial crunch resulted in the collapse of many smaller property builders, and the few that survived had to sell of their stocks of prime real estate identified for future development. If you go through reviews of Jeff Rutt from Keystone Custom Homes now, you’ll notice that he’s been taking part in the construction of superior quality residential properties from scratch according to plans approved by owner.