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Factors Behind Housing Supply Shortage: A Jeff Rutt’s Explanation The absence of adequate homes for sale in any property market adheres to demand and supply laws, ending up in a higher price for each unit. Nonetheless, what may lead to low housing stocks while there are many prospective home buyers out there? According to Jeff Rutt from Keystone Custom Homes, below is how to explain low housing inventory: Inadequate Equity To be eligible to sell a property, a person is expected to have a higher stake in its ownership. But according to Jeff Rutt, stats show that one in every five homeowners that are still paying their mortgage don’t have sufficient equity on the property to sell it. Due to these homes not being ready for sale, you should expect a low housing supply.
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When a lot of people don’t have an issue with selling their property except for the fact that the timing is not right to make profit, you’re going to have less homes on sale in the property market. Millions of properties were purchased approximately 10 years ago when the housing boom was at its peak. Very many people that purchased properties at that time are to date waiting for the right moment to make profit, even if their mortgages are not underwater. This is another factor that leads to low housing and higher costs. Lack of Buyer Interest For sure, only a couple of properties would be built in the wake of reduced buyer enthusiasm, and that does influence housing inventory. Jeff Rutt suggests that aspects such as price volatility and unavailability of units for sale have got buyers, who are indirect drivers of the property market, delaying their purchase decisions. The Appeal of Retaining Investment Properties Becoming landlords to make good money is attractive to many people, considering the monthly rental payments they can potentially receive. Likewise, there’s the possibility of properties appreciating in value and fetching a greater selling price later. Therefore, persons that purchase residential investment properties, for instance single-family homes, are not likely to list these properties in the near future. Also, that’s an issue that may explain low housing inventory. Lack of Enough Builders Jeff Rutt from Keystone Custom Homes asserts that the unavailability of enough home builders is tied to the low housing supply phenomenon. As a matter of fact, the 2007 financial crisis caused a lot of smaller home builders to collapse, and the few that endured resort to selling off their prime properties put aside for later development. If you’re reading reviews of Jeff Rutt from Keystone Custom Homes today, you’ll see that he’s been involved in the development of high quality residential properties that suit detailed specifications provided by owner, from the ground up.