There has been a lot of talk and speculation as to why we continue to see a persistent housing shortage when it comes to homes for sale. If you recall as we were in the depths of the crash, it became very common that big investment money stepped in and purchased homes by the hundreds, even thousands at a time from the banks. Those homes are in strong hands of big time investors at this point and there does not appear to be any interest in selling those homes. Many of those homes were at the lower end of the market.
The National Association of REALTORS conducted a study recently regarding the inventory shortage and one of the things that is apparent is that baby boomers don't want to sell their homes. They are satisfied with their current home. As the baby boomers go, so goes the market. So right now they are staying put.
Look for inventory to remain tight in many markets for the foreseeable future!
Author:John Murphy Phone: 763-443-9821 Dated: August 11th 2017 Views: 91 About John: John Murphy has been a licensed REALTOR since 2003 and a licensed broker since 2007. He is consisten...
View our latest blog posts in your RSS reader. Click here to access.
John Murphy has been a licensed REALTOR since 2003 and a licensed broker since 2007. He is consistently one of the top agents in the area. He focuses on the western suburbs of Minneapolis and works with buyers, sellers and real estate investors.
He is married to his college sweetheart of 29 years, Janet Murphy who helps with staging and interior design. They have 6 children - 3 boys and 3 girls - and have lived in Medina, MN since 2003.