Part 5 Must Read! Demographics, Inventory and Competition

Welcome back!  I hope you've found this blog helpful. Please share it with anyone you think might be helped by reading it. Today I'm going to cover Demographics, Inventory and Competition.  This is truly the alarming part of this blog and a must-read.

Central Ohio is a relocation hotspot. Life is good here. The weather is decent and we aren't prone to natural disasters like wildfires, hurricanes, landslides, earthquakes, etc. Plus, it's a vibrant town with tons of things to do, both inside and out.

Nationally, the current housing shortfall is 1.6 million homes. The housing supply hasn’t been this low since the 1970s. Buiders can't keep up with the demand. Inventory shortages are creating a seller’s market and intense buyer competition, which will only worsen as a greater amount of the population falls into prime buying age.

Per US Census and Housing reports, the median age of first-time home buyers is 34 years. Based on this data, for the next ten years we will have significantly greater numbers of home buyers which will create intense competition.  And, if lower loan rates are announced, the market will be saturated with even more buyers who will drive up competition and price.

Now is the window of oppotunity. There’s still plenty of inventory in the fall and winter - but competition is reduced. Buying now is the perfect time to beat the large influx of buyers in the spring.Don't risk missing this opportunity.  Call today! 614.477.3077