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Explaining Today’s Low Housing Supply

Keeping Current Matters October 2, 2023

Buyer

If you're looking to buy a home, you may be wondering why the supply of homes for sale is limited today. Here are a few factors at play.

Lack of building over Time

For 14 years, builders didn't construct enough homes. That's caused a long-standing shortage of new homes.

The Mortgage Rate Lock-In Effect

Some homeowners don't want to move and get a higher mortgage rate on their next home. This means fewer existing homes are coming onto the market.

People Are Staying in Their Houses Longer

Since 2010, people have been living in their houses for longer. This leads to fewer houses for sale since people don't move as often.

While the supply of homes for sale is low, real estate agents 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.

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