Reasons Why There Is A Housing Inventory Shortage
There has been a lot of talk and speculation as to why we continue to see a persistent housing shortage when it comes to homes for sale. If you recall as we were in the depths of the crash, it became very common that big investment money stepped in and purchased homes by the hundreds, even thousands at a time from the banks. Those homes are in strong hands of big time investors at this point and there does not appear to be any interest in selling those homes. Many of those homes were at the lower end of the market.
The National Association of REALTORS conducted a study recently regarding the inventory shortage and one of the things that is apparent is that baby boomers don't want to sell their homes. They are satisfied with their current home. As the baby boomers go, so goes the market. So right now they are staying put.
Look for inventory to remain tight in many markets for the foreseeable future!
I've been a licensed REALTOR since 2003 and broker since 2007 specializing in real estate in the western suburbs of Minneapolis. I pride myself on being excellent at pricing property both for buyers a....