Why It Could Be Years Until We See a Normal Housing Market

The combination of rising home prices, low mortgage rates that are locked in by current homeowners and low supply makes it unappealing to sell your house and look for another one right now.

Mike Simonsen from Altos Research has a chart that shows just how dire the housing supply situation is right now:

That’s 271,913 homes for sale in the entire country right now!

We’re in a housing market where we have record high demand and record low supply. If you want to know why prices are 20% higher than they were a year ago.

https://awealthofcommonsense.com/2022/02/why-it-could-take-years-until-we-see-a-normal-housing-market/