Fannie Mae's quarterly Mortgage Lender Sentiment Survey asks senior mortgage executives for their perceptions of the market and forecast for the future. According to the most recent release, lenders point to an “insufficient supply of homes available for sale” as the primary reason for slow home sales growth last year. In fact, 48 percent of responding lenders said that too few homes for sale held buyers back, while rising interest rates and higher prices were also commonly cited factors. Similarly, when asked for suggestions for what could be done to improve affordability in the months ahead, increasing the housing stock led the list. In short, mortgage execs see low inventory as the market's biggest issue. This isn't a surprise. The fact that there's been a lower-than-typical number of homes for sale has been pushing home prices upward and keeping competition for affordable homes high. The good news, however, is that recent data shows inventory has been rising and, if the trend continues, it could help provide some relief to buyers this year.  This trend has continued in Eastern, NC where buyers are finding a very selection of new homes. Many new homes have been built in this area giving something for almost everyone. Also with such a good selection of homes available, prices have moderated and loans are being made. To see some of the homes available got to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.

Tight Supply, Rising Mortgage Rates, and High Prices Slowed 2018 Home Sales, Lenders Say

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