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.
![Screen Shot 2023-09-29 at 1.05.56 PM Low Housing Inventory](https://laurenparis.com/wp-content/uploads/2023/09/Screen-Shot-2023-09-29-at-1.05.56-PM.png)
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.
![Screen Shot 2023-09-29 at 1.12.20 PM Low Housing Inventory](https://laurenparis.com/wp-content/uploads/2023/09/Screen-Shot-2023-09-29-at-1.12.20-PM.png)
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.
![Screen Shot 2023-09-29 at 1.15.12 PM Low Housing Inventory 3](https://laurenparis.com/wp-content/uploads/2023/09/Screen-Shot-2023-09-29-at-1.15.12-PM.png)
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!