Home Buyers Have It Tough as Nation Faces Unprecedented Housing ShortagePosted by: jhon | Posted on: February 4, 2021
It’s no news to house hunters that the pickings are slim in today’s real estate market. While that has been true for several years, the pandemic has made the situation worse as virus-wary home sellers have pulled their properties off the market, resulting in sky-high prices and out-of-control bidding wars for the remaining stock.
Overall housing inventory plummeted 43% in January compared with the same month last year, according to a recent realtor.com® report. New listings were down 23% year over year.