Currently Reading

Homebuyers in Search of Space Will Face Historically Low Inventory 

Advertisement

Homebuyers in Search of Space Will Face Historically Low Inventory 


June 11, 2020
Housing Aerial
By Condor 36

With many states finally opening up, some homeowners and renters can’t wait to move out of their cramped spaces. But when they start shopping around, finding the right home may not be easy, according to HousingWire. Even before the pandemic, the housing industry struggled with the lack of housing inventory, especially at the affordable end. Now experts predict that the low inventory will be the greatest challenge facing homebuyers as the country adapts to the pandemic and reopens its economy. In 2009, the nation had a 10 month supply of homes--now we have a 3 month supply.

With a decreased number of new home listings, what will happen when homebuyers re-enter the market this summer?

LendingTree says that 53% of homebuyers are more likely to buy a home in the next year because of the COVID-19 pandemic, with respondents saying they’re either tired of the small space they live in currently or don’t care where they live since they work remotely now.

Many even say they are ready to attend an open house again, according to a new survey from the National Association of Realtors, which found that 65% of people who attended an open house within the last year would do so now without hesitation.

Obviously, consumers are signaling a growing appetite for home-buying.

Read More

Related Stories

Sales

This Flat-Fee Brokerage Wants to Disrupt Denver’s Real Estate Market

Utah-based real estate brokerage, Homie, promises to have your back as a homie should. The company calls itself “disruptive” and wants to use…

Sales + Marketing Trends

Measuring Buyer Demand From Showing Appointments

Measuring buyer demand in a different way, the ShowingTime Showing Index compares the number of appointments made for virtual or in-person …

Design

What Features Prospective Buyers Focus on During Showings

What do homebuyers look at first when touring a prospective home? With the help of some eye-tracking spyglasses, there are actual hard facts that…

Advertisement

More in Category




Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.