What Does It Mean When Housing Inventory is Low?

by Mary McKinney, Director of Marketing/Realtor

Not sure if you’re ready to buy or sell?

Keep reading. This article might change your mind.

As of today, there are 372 active residential listings in Calcasieu and Beauregard parishes, combined. This makes the market a prime time for sellers, and surprisingly, not too shabby for buyers. It all circles back to the basic concept of supply and demand.

There's a few reasons

why the housing market (especially in Southwest Louisiana) has become a seller’s market. One of the largest, glaring factors is the series of unfortunate weather events that struck us over and over again last year. Another big player is the unavailability of resources and delays in supply chain due to the COVID-19 pandemic. As we all know, lumber prices have skyrocketed, which deterred many builders from constructing new homes…

Yes, it’s an attractive market for sellers, but what does all of that mean for buyers?

According to CNN’s article on the current housing market, they aren’t sure why buyers would not hop on the low interest rates.

If you are ready to BUY, contact your local RE/MAX agent for a professional opinion on your market. The National Association of Realtors indicates that 89% of the houses that were on the market in June were sold within a month. This is why it’s important to have a skilled negotiator in your corner. They will also be able to provide you with some recommendations on who to use for your specific pre-approval, which is key in the industry today.

Still not sure you want to SELL? Carlo Siracusa, president of residential brokerage at Weichert advises that we will begin to see rising interest rates. This might make buyers think twice before applying for a loan. So, we’ll present the facts: supply is low, and demand is high. If you’d like to receive a professional opinion on how much your property is worth, contact your local RE/MAX agency for an assessment.

- Mary McKinney, Director of Marketing/Realtor, 7/29/2021


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Beds

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1

2

3

4

5

Baths

:

1

2

3

4

5

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25,000

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175,000

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