Why are there so few homes for sale?

What is a low housing supply?

When you hear there is a low housing supply or someone say "There's only 1 month of housing inventory" what does that mean?

It means if no new homes were listed for sale and homes that are already listed continued to sell at the current pace, all the homes would be sold in 1 month. 

The housing supply refers to how many homes are for sale versus how fast they are selling. So, when we say the inventory is low, that means there are fewer homes for buyers to choose from. 

Explaining Today’s Low Housing Supply 

Some Highlights

• Wondering why the supply of homes for sale is limited today? There are a few factors at play.
• Lack of building over time, the mortgage rate lock-in effect, and people staying in their houses longer are three of the main reasons why supply is low.
• But real estate agents know exactly where to look and what to do to make your dream a reality. Let’s connect so you have an expert on your side to help you successfully navigate the market and find your next home.