Inventory Glut Grows.
Building continues at a torrid pace around Branson. Mortgage rates easing up should help with the historic levels of “For Sale” homes on the market:
8/30/06 8/28/07 change
Homes for Sale 1168 1759 +51%
Land/Lots for Sale 1900 2637 +39%
Condos for Sale 428 614 +43%
The growth in population creates a need for more housing inventory, but 50% more over a year ago is an ominous number that reflects overbuilding as well as local population growth. Transactions have dried up. From August 1-28 2006, 144 homes were sold, but from August 1-28 2007, only 106 homes have sold, 26% less in 2007.