... [+] polled in the latest Zillow home price expectations survey.
The dwindling supply of homes for sale has been a key driver of the recent explosion in home values, which have risen 32% in the past two years. Total inventory has fallen from a monthly average of 1.6 million units in 2018 and 2019 to just over 1 million in 2021, and monthly figures in 2022 are lower still.
Inventory should return to a monthly average of 1.5 million units or higher in 2024, according to the largest group of respondents to Zillow’s survey. But many are more optimistic — the second-largest group believes supply will bounce back to pre-pandemic levels in 2023, while 2025 earned the third-highest share of votes with 12%.
“Inventory and mortgage rates will determine how far and how fast home prices will rise this year and beyond,” said Zillow senior economist Jeff Tucker. “We are seeing new listings returning to the market, slowly, as we enter the hottest selling season of the year, but this supply deficit is going to take a long time to fill.”The pandemic ushered in record-breaking price growth alongside rent hikes that made saving for down payments even more difficult.
A bit bloated is the housing market,isn't it?
look at my boobs😘 RobinLo52507279
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