Quote:
Originally Posted by margaretmattson
How is anyone enjoying rising inventory? It affects ALL homeowners in a negative way. Would you rather posters drink kool aid, put on a pair of rose-colored sunglasses, and pretend the inventory is not rising? The posters did not create this problem. They are simply discussing a situation THAT DOES EXIST. It is not going to go away if posters remain silent.
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How does rising inventory affect me in a negative way (I am part of ALL homeowners)? Other than a possible open house, if the home next to mine was for sale I would have no idea. In fact, if having the home on the market meant the owner paid a bit more attention to the external appearance of the home then it actually benefits me. If new homes are selling slower it means slower crowding in restaurants, stores, squares, and roundabouts.
While some have given numbers for pre-owned homes on the market, I haven't seen any statistics showing the percentage of those homes on the market is atypically high. It could be there are usually X% of homes for sale at any time and as the number of homes increases, so does the size of X%.
As for new homes, are there more on the market because sales have dropped off or are there more on the market because the Developer has increased production? If they are selling about 300/month then they are on track to meet the number from previous years. If at the same time the number on the market is increasing all it would show is that he is building faster than in previous years.