Dear Monica: We are ready and anxious to buy a home but inventory is lower than I’ve ever seen it before. Do you know why it is so low and if this will change? Janet R.
Dear Janet: In many years there has often been low inventory in January and February, with marked improvement in March and April. It is too soon to tell if that will be the case this year but it doesn’t look promising as yet. It is very tough for buyers now with such a low property supply and also with cash-buying hedge funds edging them out of the market.
We don’t know how long this imbalance between supply and demand will continue but most agents too would like to see it end. My advice is to keep at it and not to get discouraged.