Dear Monica: We are in the market for a home but are still seeing low inventory. What are reasons for this? Helen P.
Dear Helen: There are a few reasons for homeowners staying put in their homes rather than selling. Many have low interest loans and if they buy a new property their loan rates will be higher. Many who have owned for a long time would have substantial capital gains to pay if they sell so they don’t. Some who would sell need to find a replacement property which is hard to do with low inventory. And some simply don’t know where to move. Thus without a greater inventory, prices remain more or less stable.