What’s Driving This Low-Inventory Market?
Here are my thoughts on where our real estate market might be headed.
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Back in April 2019, there were over 47,000 properties for sale on our MLS. In April 2020, we still had over 40,000 properties for sale. At the end of April 2021, however, there were under 20,000 properties for sale on the MLS. Inventory is down over 50% in just one year.
This market is being driven by this lack of inventory. Prices continue to rise as demand for homes remains high. When is this going to change?
"Take advantage of this extreme demand by selling now."
If I had a crystal ball, I’d tell you. However, we’re keeping a very close eye on things as we head toward the end of the foreclosure and eviction moratorium. I predict that we’ll see some more inventory hit the market at this point and things will get a little better for buyers. As inventory expands, the market will change.
If you’re a seller, this means that now is probably the best time for you to sell. Don't expect this market to last forever because it won’t. Take advantage of the extreme demand for homes by selling now.
If you have any questions for me about buying a home, selling a home, or the real estate market in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.