Low Inventory, and It’s Not Changing Soon

Filed under: Temecula Real Estate

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I’ve been getting a lot of messages about the market and what is going on. Our current circumstance is completely unprecedented and it makes no sense – it’s almost an irrational market. With that said, I wanted to create a series of videos to talk about why the real estate market is doing what it’s doing, and how to navigate this current market.

Why is Inventory Low?

There’s no question that inventory is low right now. But why is this happening? The millennial generation is buying homes like they’ve never done before: at a greater velocity and a higher rate. The millennials make up over 60% of the current buyers in the marketplace right now. Just a few years ago, things were different – millennials were holding off on buying real estate because they liked the flexibility of renting.

Now that they are in their 30’s with kids, and in the middle of a pandemic, they are realizing that they would like to change their housing. Also, rent is getting more expensive, making it attractive to put their monthly payments into a mortgage instead.

So, the first thing is that inventory probably won’t get much better in the near term because of the velocity with the new buyers coming into the marketplace.

Upcoming Information about Buying a Home

With the video series coming up, we’ll be diving into the tools that we can use in this market. I’ll also be talking about how we can get around the inventory problem to make the real estate market something viable for you. If you need to make a move, then my team is here to assist and help you find the right home and negotiate the best deal in the current circumstances.

Even though the market is competitive, it’s possible to buy a home when you are working with an experienced real estate team. We’ll help you stay focused on your short-term and long-term goals, with a personalized approach to match your unique needs.

Feel free to reach out any time if you have questions about Temecula real estate. I’m always here to assist. Call, text, or email me to have a conversation: (951) 473-0390 or [email protected].