The big issue around housing today is low inventory. At 0:19 in the video above, you’ll see that it hasn’t always been like this. From 2005 to 2007, national inventory shot up to four million active homes. As you can also see in that chart, we’re down to just 400,000 properties for sale throughout the country today. That’s the lowest inventory we’ve ever seen, and we’ll keep our eye on it.
We were recently working with a couple from Tennessee who were looking for a home in a wide price range across three counties, but there were only eight homes that fit their criteria. What did we do? We went out and found off-market properties. That’s what’s needed to find inventory for homebuyers in this market. It’s about reaching out to other agents, networking, and finding properties without relying on the internet.
High demand for homes remains even though rates have risen, and we’re seeing multiple-offer situations continue. If you have any questions about buying or selling a home, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.