According to Realtor.com’s recent Housing Shortage Report, the US is experiencing the worst inventory shortage in two decades. And while this presents a definite challenge for people looking to buy a home, it creates the perfect storm of opportunity for those wanting to sell. According to Realtor.com’s research, the housing shortage can be attributed to the baby boomer generation being unwilling to sell in the current market. In fact:
- 72% of existing homeowners over the age of 55 feel their current home fits their needs
- 85% of those baby boomers don’t plan to sell their home in the next 12 months
Low inventory can be a problem for buyers. But if you’ve been thinking about selling your home, low inventory means there’s never been a better time to put your property on the market.