Are builders going to solve our inventory crisis? Do we even still have one? YES!! 📉 We are in another anomaly market in which we have way less buyers than before, higher rates than the last few years, and yes we still have less homes on the market than we did before Covid (or in Chico’s case, before the fire). For reference, we used to have on average 230-250 homes on the market at any given time. Now, we are steady in the 160-180 range.
Why is this happening? Well – builders have not been able to keep up with demand. And some builders are even not building at all or have slowed down for a number of reasons. Another reason for low inventory is so many sellers have that record low interest rate, that it doesn’t make sense for them to move unless they have to! And we won’t be seeing a change in that any time soon.