'It's crazy. There is no inventory.' Housing industry veteran marvels at real estate boom

  • 📰 CNN
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

For wannabe buyers, the shortage of homes on the market, combined with a surge of competition from other purchasers is setting off bidding wars, all-cash offers and no end of sticker shock.

New York Jeffrey Mezger is a 40-year veteran of the real estate industry. He's never seen a stronger housing market than this one.

"It's crazy. There is no inventory," the CEO of KB Home told CNN Business. Homes are selling at record speed as buyers scramble to find propertiesBut this one-two punch of very low supply and roaring demand is suiting homebuilders just fine. "This is the best housing market I've seen in my career," Mezger said."It's a good time to be a homebuilder."Read MoreKB Home's first-quarter profit swelled by 62%.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Couple of months ago I came across a recommendation about marksust6 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation

When they stop extending the foreclosure memorandum there will be an increase in availability but no president wants to do that on their watch

Not so true! There be houses out there, but since covid theyve been boarded up and left to rot. Homeless and wackjobs ruining them. And whats left is junk homes that no one wants. I tried buying a junk home, but repair costs made it imposs to get. And the new homes...junk as well

Regret is a waste of energy. Don't stay home and not get paid, buy Bitcoin and register with a license trading company to earn guaranteed Passive income (13% interest on all your investment) lisadonaldT

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Is your dream home not on the market? How to buy unlisted housesReal estate listings aren't the only way to find that perfect house. $$$$$$$MONEY,MONEY,MONEY! If you offer enough almost everything is forsale. Cynical, yes. True, yes.
Source: TODAYshow - 🏆 389. / 55 Read more »