• Mike Gratland

Why Is It So Hard To Find A House In 2021 | Thousand Oaks Real Estate


The dilemma many home are facing this year is merely a lack of inventory, which makes the market super competitive right now. Nationwide homes are getting an average of 4.8 offers per sale.


Danielle Hale, Chief Economist at realtor.com, explains:

The housing market is still relatively under supplied, and buyers can’t buy what’s not for sale. Relative to what we saw in 2017 to 2019, March 2021 was still roughly 117,000 new listings lower, adding to the pre-existing early-year gap of more than 200,000 fresh listings that would typically have come to market in January or February. Despite this week’s gain from a year ago, we’re 19 percent below the new seller activity that we saw in the same week in 2019.

The main reason for the lack of inventory is the lack of long term decline in the construction of new "entry-level" single-family homes, what we consider to be starter homes.


The national housing market was already experiencing a supply shortage prior to the 2020 COVID-19 pandemic.




The number of newly built homes is disproportionately lower than the rate of household formation. Freddie Mac estimates that we will need to build close to 4 million homes to meet the current demand.


Bottom Line

If you’re planning to buy this year, the key to success will be patience, given today’s low inventory environment. Contact a local real estate professional today to learn more about what’s happening in your area.

6 views0 comments

There Is A Better Way To Sell Real Estate.

 

We Sell Homes In 72 Hours

Netting Our Clients Thousands More!

 

Our "Auction-like" program has a proven track record yielding our clients more money for their homes.

see what our clients say

promotional media image.png

Every home is properly evaluated, and provided with best photography, quality print materials and compelling digital ads.

You can be sure your home will get the best exposure with our Century 21 world wide syndicated network

Work with award winning real estate agent Mike Gratland in these

Greater Los angeles areas:

Best Real Estate Service in Ventura County Cites:

real estate service areas by zip code:

91320, 91360, 91361, 91362, 93001, 93003, 93004, 90265, 91301, 91302, 91304, 91307, 93010, 93012, 91311, 93021, 93022, 93023, 93030, 93033, 93036, 93060, 93061, 93065, 93066