Housing shortage causes homes to sell faster than ever

Are you in the market for a new home? Or maybe you’re trying to sell one?

Well, we’ve got some good news and we’ve got some bad news.

A severe housing shortage in the U.S. means houses are selling faster now than in the past 30 years.

Homes are only spending about three weeks on the market before being sold.

That’s good news for those trying to sell their homes,but if you’re a first time home buyer, not so much.

Why?

Because along with the shortage, comes higher prices.

That makes it more difficult for younger Americans already dealing with other debt, like student loans, to purchase a home.