There aren’t enough homes for sale on the American housing market, which makes it challenging and emotionally taxing for many purchasers to purchase a home.
The US housing market is facing a shortage of available homes to buy, with housing inventory falling to historic lows in many markets. This is due to a number of factors, including investors snapping up homes, older Americans choosing to age in place, and a lack of new construction in some areas. Low-interest rates in 2020 and 2021 have also led to homeowners being reluctant to sell and buy a new home with a higher interest rate. As a result, buyers are finding it difficult to find options, and are often forced to choose between paying a high price or waiting for a long time. The situation is expected to continue as mortgage rates rise and the Federal Reserve raises interest rates to combat inflation.