Housing demand remains strong this summer, even as inventory issues persist in many markets across the country, according to the REALTORS® Confidence Index for June.
Overall housing demand this summer is on the rise due to more jobs being created and by low mortgage costs. According to NAR Research, “Job creation is strongly associated with the demand and supply of homes: strong job growth improves the prospect for home ownership, while job contraction in an area may lead to more homes being sold as people move out of the area.”
More details and national chart at: “Buyer Traffic Continued to Outpace Supply in Many States in April–June 2016,” National Association of REALTORS®’ Economists’ Outlook Blog (Aug. 3, 2016) and REALTORS® Confidence Index