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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. Yet, what would cause a shortage of housing supply when there are many people seeking to buy? Let’s see Keystone Custom Home’s Jeff Rutt try to explain low housing inventory below: Inadequate Equity To be eligible to sell a property, a person is expected to have a higher stake in its ownership. But according to Jeff Rutt, stats show that one in every five homeowners that are still paying their mortgage don’t have sufficient equity on the property to sell it. Because such properties have not yet entered the market, you may anticipate a level of shortage.
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In the event that many individuals would be inclined to sell their homes, but they won’t do it since it’s impossible for them to make profit now, you certainly expect a shortage in real estate listings. Millions of properties were purchased approximately 10 years ago when the housing boom was at its peak. 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. This also an issue that causes housing inventory problems and higher prices. Buyers’ Hold Off Of course, very few homes would be built when there’s low buyer interest, and that does affect housing supply. According to Jeff Rutt, factors such as price instability and inadequate supply of homes have pushed buyers, who drive the market behind the scenes, to push back their buying plans. The Allure of Keeping Investment Properties Becoming landlords to make good money is attractive to many people, considering the monthly rental payments they can potentially receive. Similarly, there’s the potential for properties to soar in value, attracting a better selling price in future. As such, individuals that acquire residential investment properties, for example single-family units, may not be ready to put these on sale in the foreseeable future. Also, that’s an issue that may explain low housing inventory. Lack of Enough Builders According to Jeff Rutt from Keystone Custom Homes, the low housing inventory issue may be explained by the lack of enough property developers. As a matter of fact, the 2007 financial crisis caused a lot of smaller home builders to collapse, and the few that endured resort to selling off their prime properties put aside for later development. Once you look at reviews of Jeff Rutt from Keystone Custom Homes, you’ll realize that he’s been participating in the construction of excellent quality residential units from the ground up as per the requirements specified by owners.