For five years I have predicted a severe housing shortage at the end of the Great Recession, and now it’s beginning to come true. Buyers are experiencing tremendous frustration over the limited inventory currently on the market, thus forcing prices higher. Americans are feeling better about their jobs and the economy, further pushing prices up. Lawrence Yun, chief economist of The National Association of Realtors said in the November issue of The Realtor Magazine, ”The inventory of existing homes is at its lowest level in seven years, while newly constructed home inventory has hit a 50-year low mark. Falling inventory is causing home prices to shoot up higher and faster than most analysts anticipated. The national median price of transited homes was up 9.5 percent in August.
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About Lynn and Mark Rogo
Respected throughout the brokerage community for their honesty, integrity & strong work ethic, Mark & Lynn Mirisch Rogo are proud to offer the highest caliber of personal service that delivers results. Mark brings to his career extensive knowledge & experience in finance, business management & real estate investments that give him a definite edge in today’s competitive marketplace. As a lifelong resident of Beverly Hills & Westwood, Lynn has widespread knowledge of the marketplace, giving her a definite edge in helping buyers & sellers achieve their goals.
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