Housing market fails to produce what buyers really want!
The gap between the homes consumers want and the homes available for sale continues to grow in many markets across the U.S., according to the latest Mismatched Markets report from Trulia.
In order to examine the widening gap, Trulia compared home searches with for-sale inventory on Trulia between April and June of 2017, and compared it with that same period last year.
The data showed potential homebuyers continue to struggle when looking for starter and trade-up homes, but expensive luxury homes are flooding into the market. Trulia’s national mix-match score for all homes increased from 92 last year to 14.7.
This score is on scale of zero to 100, with zero being perfectly matched and 100 being completely mismatched.
The infographic below compares the number of home searches to the inventory available nationally, and in several housing markets across the U.S. While cities like Grand Rapids, Michigan have extremely mix-matched markets for all home types, other cities, such as Camden, New Jersey, are much more level.
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