Why There Are So Few Homes Available

Here’s why we’re seeing such an inventory shortage in our market.

As you know, we’re experiencing an inventory shortage in our Triangle market, and I’m getting asked one question a lot: Where are all the houses? There are five reasons why we’re seeing this housing shortage: 

1. Construction. Builders have slowed down over the past 10 years and haven’t been able to supply the construction needed in our market. Thus, we haven’t seen as many new construction homes available for sale.

2. Limited foreclosures. We usually see more foreclosures coming on the market, but forbearances granted by the government have caused them to decrease.

3. Baby boomers are staying in their homes longer. 

4. Due to low interest rates, more homes are being turned into Airbnbs and long-term rentals. This means these potential homes aren’t coming on the market either. 

5. Raleigh is growing exponentially. With so many people relocating to our area, the available homes are being scooped up quickly.

If you’d like to know more about our Triangle market or there’s anything I can help you with, don’t hesitate to reach out to me. I’d love to hear from you.


 

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