US Real Estate (Patreon)

In February, new single-family homes for sale hit 500,000, the highest since November 2007. Over the past 13 years, inventory has tripled from a low of 142,000, marking the largest supply ever outside the 2006 housing bubble. In the South, new homes for sale dropped 8,000 to 296,000, still near a record high and above the 291,000 seen in 2006 before the market crashed.

RE TIP

With this oversupply, price cuts may loom as sellers, long waiting for a market, now rush to offload, downsize, or cash out this spring. Again folks have waited years for this moment to exit or sell their homes but there was no market, Spring is the time when people buy so the timing is good but this flood could bring about some deals for those looking for a new castle.

Shout to out Community Member @Bearjamin who just took profits on a few killer trades to buy his first castle.