While neither of those things happened, the stories may have dinged your confidence enough for you to think it’s better to hold off and wait for things to calm down. You’ve likely seen the negative headlines calling for a housing crash, or the ones saying home prices would fall by 20%. Misinformation in the Media Is Creating Unnecessary FearĪnother thing that’s limiting inventory right now is the fear that’s been created by the media. Those homeowners need to remember their needs may matter just as much as the financial aspects of their move. The chart below helps illustrate just how many homeowners may find themselves in this situation: They don’t want to move and take on a rate that’s higher than the one they have on their current home. Basically, some homeowners are reluctant to sell because of where mortgage rates are right now. The first is the mortgage rate lock-in effect. ![]() There are also a few factors at play in today’s market adding to the inventory challenge. Today’s Mortgage Rates Create a Lock-In Effect And while new home construction is back on track and meeting the historical average right now, the long-term inventory problem isn’t going to be solved overnight. That underbuilding created a significant inventory deficit. The graph below shows new construction for single-family homes over the past five decades, including the long-term average for housing units completed:įor 14 straight years, builders didn’t construct enough homes to meet the historical average ( shown in red). One of the big reasons inventory is low is because builders haven’t been building enough homes in recent years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply. There aren’t enough homes available for sale, but that shortage isn’t just a today problem. If you'd like a see a vehicle in person, click on Dealership Directions for step-by-step driving instructions to our site,or give us a call.One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. We will gladly inform you when a matching car arrives. If you don't see a particular vehicle, click on CarFinder and complete the form. Once you've found your next car, our relationship continues with our service support, auto service, financing and incentives. You can also request more information about a vehicle using our online form or by calling 61. We encourage you to browse our online inventory, schedule a test drive and investigate financing options. All of our sales personnel are product specialists and are more than willing to answer all your questions. Our experienced sales staff is eager to share their knowledge and enthusiasm with you. We have earned several awards from Mazda including the President's Club, and are Gold Cup Certified for the third year in a row. Whether you're looking for style, power or tech-savvy attributes in a compact car, sedan, hatchback, crossover, SUV, or fuel-efficient vehicle, Borgman Mazda has you covered. We also feature an extensive selection of used cars of every make and model, and a full-service commercial division specializing in commercial trucks, vans and fleet passenger vehicles. And if you're looking for America's most treasured sports car, look no further than the 2022 Mazda MX-5 Miata and 2022 MX-5 Miata RF. The luxury and reliant crossovers and SUVs include the 2022 Mazda CX-30, 2022 Mazda CX-5, and 2022 Mazda CX-9. The new Mazda lineup of sedans and hatchbacks includes the 2022 Mazda3 Sedan, 2022 Mazda3 Hatchback, and 2022 Mazda6. Allow us to demonstrate our commitment to excellence!Ĭome in today to test drive our robust line of new 2022 Mazdas. Borgman Mazda serves and services the communities of greater Grand Rapids including Grandville, Byron Center, Wyoming, Walker, Kentwood and Holland. We know that you have high expectations, and as a car dealer we enjoy the challenge of meeting and exceeding those standards each and every time. Our staff treats the needs of each individual customer with paramount concern to ensure a fun, stress-free experience. ![]() Borgman Mazda has led Grand Rapids and all of West Michigan in fair and square deals for more than five decades.
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