Thursday, September 21, 2017 / by Jon Putt
First American just released the results of a survey which sheds light on the reasons for the current lack of supply.
The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey:
47% - existing homeowners are worried that they will not be able to find a home to buy
5% - first-time buyer demand is absorbing a large share of available homes
3% - existing homeowners’ mortgage rates are lower than the current rates
6% - insufficient or negative equity in the home
6% - foreign buyer demand is absorbing ...