Home prices are sky high, but mortgages are still cheap

Posted by on Jul 7, 2017 in Blog | 0 comments

Source:  CNN /   @KathrynVasel   June 23, 2017: 10:31 AM ET


Cities across the U.S. are facing major housing shortages, which means buyers have to compete for homes with bidding wars and offers well above asking price.

“Prices are moving up and properties are moving quickly,” said Danielle Hale, NAR’s managing director of housing research.

Builders aren’t building enough houses to keep up with demand and current homeowners are hesitant to list their properties because they’re worried they won’t be able to buy a new home.

Cities across the U.S. are facing major housing shortages, which means buyers have to compete for homes with bidding wars and offers well above asking price. “Prices are moving up and properties are moving quickly,” said Danielle Hale, NAR’s managing director of housing research. Builders aren’t building enough houses to keep up with demand and current homeowners are hesitant to list their properties because they’re worried they won’t be able to buy a new home.

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