If you’re looking to buy a new home, you may be wondering why the supply of homes is so low today. Here are a few factors that play into it:
Lacking of Building
For 14 years, builders did not construct enough homes, causing a long-standing shortage of new homes.
The Mortgage Rate Lock-In Effect
Many homeowners don’t want to move and get a higher mortgage rate on their next home. This means fewer homes are coming onto the market.
People Are Staying in Their Houses Longer
Since 2010, people have been staying in their homes longer. Meaning, that fewer houses are for sale since no one is moving.
While the supply of homes for sale is low, real estate agents, like myself, know exactly where to look and what to do to make your dream a reality. Let’s connect so you have an expert on your side to help you successfully navigate the market and find your next home!
