Don Akridge

What Forces Are Driving the Market?

BY DON AKRIDGE, MBA, CFP®, CPA/PFS U.S. MARINE CORPS VETERAN – EMORY UNIVERSITY ALUMNUS

Recently, you may have seen reports that a record low number of homes are available for sale — roughly 1.03 million nationwide. If you compare that with the average number of homes for sale during the past 10 years, it’s no surprise that many hopeful homebuyers are having issues securing a home.1

Lack of inventory.

There are a few major differences between 2007 and now, however. The biggest difference? What we’re seeing now isn’t a bubble; it’s simply a lack of inventory.

It’s a seller’s market.

In many ways, this may be the most friendly market we’ve seen in quite a while for home sellers. Right now, nearly half of homes are selling in one week or less. At the same time, median prices are rising at a phenomenal rate, and national prices, in general, have increased 17.2% over last year.2

Why now?

Listings are skyrocketing for a number of reasons. Experts believe the continued low mortgage rates, a pandemic-era construction slowdown, and an increase in money available for a down payment are all factors.3

In this hyper-competitive market, many people are thinking of taking advantage of the situation by listing a property or home. If this sounds like you, get in touch with a housing professional who can offer guidance and support.

Securities offered through registered representatives of Cambridge Investment Research Inc., a broker-dealer, member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors Inc., a registered investment adviser. Cambridge is not affiliated with and does not endorse the opinions or services of Peter Montoya Inc. or MarketingPro Inc. This material was prepared by MarketingPro Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note: Investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any federal tax penalty. This is neither a solicitation nor a recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment. Citations 1. NAR.realtor.com, March 22, 2021 2. Axios.com, April 11, 2021 3. Axios.com, April 11, 2021

Don Akridge is president of Citadel Professional Services, LLC, an independent firm, founded in 1994 and conveniently located off Chastain Road between I-575 & I-75 in Kennesaw. 770-952-6707.