HUNTSVILLE, Ala. — Even this past fall, we saw some very interesting trends within the market: extremely high demand, extremely low supply. It was a seller's paradise.
Fortunately for sellers and unfortunately for buyers... these trends don't seem to be going anywhere.
You may notice more 'FOR SALE' signs while driving around on a sunny day but homes are obviously sold all year round, even during the winter months.
But traditionally, more people buy homes during the spring and summer seasons, meaning there is a lot more demand for homes during this time of the year... this high demand would be fine if there was a supply to back it up.
"Inventory is down quite a bit, more so than this time last year," said Local Broker Associate, Holly McDonald.
"A lot of this inventory issue has to do with people holding onto their homes and not wanting to sell right now but it also has to do with the construction of new homes and the current shortages that many industries face," said McDonald's.
"Builders are having a hard time finding supplies. They're having a hard time finding laborers, prices are going up, they're kind of holding back on listing. In previous years they'll list before the house is finished, now a lot of builders are not even wanting to list the homes until they are finished or about 30 days out, just so they can make sure that they're not losing money," said McDonald.
Now this may lead you to ask - why can't people just buy the homes that are already here, built and all?
McDonald helps paint a picture...
"The people that are in homes now that are wanting to buy up; they need a reason to move, they need to see some inventory that you know, drives them to want to move, so they can put their home on the market. So then our other buyers will have you know inventory to buy," said McDonald.
RELATED: Home prices up $55k from last year