As mentioned by the Association’s article, there was a firmly increasing residential sales in Q1 2016 when compared to its previous year, but it was also the time when actual housing inventory and active listings have reduced considerably. Based on the report, listings were decreased by 11.9%. In addition, the study finds that the average days of active first quarter listings put for sale on the market were 64, which is down three days from first quarter 2015.
Marcus Hiles understands that these market variables will impact purchase decisions negatively. However, he also believes that Western Rim, a firm that’s committed to providing economical flats that are of superior quality, will solve this matter of housing shortage. He says, “In our experience, low inventory when combined with high demand for upscale properties causes a remarkable increase in valuation. Western Rim believes that people should be able to purchase a contemporary, plush flat while not having to strain their budgets. The results of the study help us deliver this promise; we’ll keep following these market trends in order to help our customers achieve their lifestyle dreams.”