If you’re planning to buy this year, the key to success will be patience given today’s low inventory. Let’s connect to discuss what’s happening in our area, what homes are available, and why it’s still worthwhile to prioritize your home search today.
Are You Wondering Why Inventory is Still Low on Houses To Buy?
Low Inventory continues to be a problem for home buyers. Now is not the time to give up. There is new inventory entering the market everyday.
It is persisting to be a bidding war for houses. The Pandemic really changed the housing market by having to quarantine in our homes. Most of us who could worked from home. It gave us a whole new meaning on what are homes do for us and what we need to have. That really got a lot of us revaluating our situations.
To top it off the new housing came to practically a stand still due to construction supplies being so difficult to procure. With supply chain issues, labor shortages and regulatory practices further slowing new home construction, houses aren't being built fast enough to meet demand, and home prices are rising fast as a result.
At the start of January 2022, there are 41.87 percent fewer residences on the market than there were in January 2021. According to Marco Santarelli who has a very informative blog based solely on the Denver Metro Area.