• (714) 470-8600
    • mike@mikepatel.com

Mahesh Mike Patel

Anaheim Hills Real Estate

  • Menu
  • Search
    • Advanced Search
    • Map Search
    • Listing ID Search
    • Address Search
    • Browse by City
    • My Account
  • About
    • Meet Mike
    • Read Reviews
    • Watch Reviews
    • Marketing Plan
    • Luxury Homes
  • Buyers
    • Buying With Us
    • Featured Properties
    • Hot Properties
    • Luxury Homes
    • Off Market Listings
    • Mortgage Calculator
    • My Listing Manager
    • Commercial
    • Residential Income
    • REO Properties and Foreclosure
    • Short Sale Properties
  • Sellers
    • Free Instant Home Value
    • Selling With Us
    • Marketing Plan
    • Sold Portfolio
    • FREE Home Valuation
    • Luxury Homes
    • Commercial
    • Residential Income
    • Short Sale Properties
    • REO Properties and Foreclosure
    • 12 Reasons Your Home Didn’t Sell
  • Communities
    • Anaheim
    • Anaheim Hills
    • Brea
    • Buena Park
    • Fullerton
    • Garden Grove
    • Orange
    • Placentia
    • Tustin
    • Tustin Ranch
    • Villa Park
    • Yorba Linda
  • Commercial
  • Income Properties
    • Residential Income
    • REO Properties and Foreclosure
    • Short Sale Properties
  • Youtube Channel
  • Blog
    • Events
  • Contact

Where Have All the Houses Gone?

Where Have All the Houses Gone? | Simplifying The Market

In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further. Experts consider this to be the biggest challenge facing an otherwise hot market while buyers continue to compete for homes. As Danielle Hale, Chief Economist at realtor.com, explains:

“With buyers active in the market and seller participation lagging, homes are selling quickly and the total number available for sale at any point in time continues to drop lower. In January as a whole, the number of for sale homes dropped below 600,000.”

Every month, realtor.com releases new data showing the year-over-year change in inventory of existing homes for sale. As you can see in the map below, nationwide, inventory is 42.6% lower than it was at this time last year:Where Have All the Houses Gone? | Simplifying The Market

Does this mean houses aren’t being put on the market for sale?

Not exactly. While there are fewer existing homes being listed right now, many homes are simply selling faster than they’re being counted as current inventory. The market is that competitive! It’s like when everyone was trying to find toilet paper to buy last spring and it was flying off the shelves faster than it could be stocked in the stores. That’s what’s happening in the housing market: homes are being listed for sale, but not at a rate that can keep up with heavy demand from competitive buyers.

In the same realtor.com report, Hale explains:

“Time on the market was 10 days faster than last year meaning that buyers still have to make decisions quickly in order to be successful. Today’s buyers have many tools to help them do that, including the ability to be notified as soon as homes meeting their search criteria hit the market. By tailoring search and notifications to the homes that are a solid match, buyers can act quickly and compete successfully in this faster-paced housing market.”

The Good News for Homeowners

The health crisis has been a major reason why potential sellers have held off this long, but as vaccines become more widely available, homeowners will start making their moves. Ali Wolf, Chief Economist at Zonda, confirms:

“Some people will feel comfortable listing their home during the first half of 2021. Others will want to wait until the vaccines are widely distributed.”

With more homeowners getting ready to sell later this year, putting your house on the market sooner rather than later is the best way to make sure your listing shines brighter than the rest.

When you’re ready to sell your house, you’ll likely want it to sell as quickly as possible, for the best price, and with little to no hassle. If you’re looking for these selling conditions, you’ll find them in today’s market. When demand is high and inventory is low, sellers have the ability to create optimal terms and timelines for the sale, making now an exceptional time to move.

Bottom Line

Today’s housing market is a big win for sellers, but these conditions won’t last forever. If you’re in a position to sell your house now, you may not want to wait for your neighbors to do the same. Let’s connect to discuss how to sell your house safely so you’re able to benefit from today’s high demand and low inventory.

Posted in: News & Blog

Post navigation

« How To Stop Living In Fear
Top 10 Newest Bank Owned Townhomes For Sale in Orange County CA »

Search Properties

Get FREE Listing Manager

Login to Listing Manager

Featured Properties

1062 Irvine Boulevard $1,600,000

1062 Irvine Boulevard Tustin, California

Beds 0 Baths 1,500 Sq Ft Acres

2444 Huntington Dr $169,000

2444 Huntington Dr Duarte, California

Beds 0 Baths 3,850 Sq Ft 0.260 Acres

Search for:
Search for:
Search for:

RSS MikePatel’s Blog

  • Are There Going to Be More Homes to Buy This Year? February 25, 2021
    If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors (NAR), across the country, inventory of […]
  • How Much Leverage Do Today’s House Sellers Have? February 24, 2021
    The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory […]
  • The Reason Mortgage Rates Are Projected to Increase and What It Means for You February 23, 2021
    We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there’s no guarantee rates will remain this low […]
  • Where Have All the Houses Gone? February 22, 2021
    In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage […]
  • Home Mortgage Rates by Decade [INFOGRAPHIC] February 19, 2021
    Some Highlights Mortgage interest rates have dropped considerably over the past year, and compared to what we’ve seen in recent decades, it’s a great time to buy a home. Locking in a low rate today could save you thousands of dollars over the lifetime of your home loan, but these low rates may not last […]
  • Will Low Mortgage Rates Continue through 2021? February 18, 2021
    With mortgage interest rates hitting record lows so many times recently, some are wondering if we’ll see low rates continue throughout 2021, or if they’ll start to rise. Recently, Freddie Mac released their quarterly forecast, noting: “The average 30-year fixed-rate mortgage hit a record low over a dozen times in 2020 and the low interest […]
  • 3 Ways Home Equity Can Have a Major Impact on Your Life February 17, 2021
    There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years. CoreLogic indicated that equity increased for the average homeowner by $17,000 in the last year alone. ATTOM […]
  • Millennials: Is It Time to Buy a Bigger Home? February 16, 2021
    In today’s housing market, all eyes are on millennials. Not only are millennials the largest generation, but they’re also currently between 25 and 40 years old. These are often considered prime homebuying years when many people begin to form their own households and invest in real estate. If you’re like many millennials who are spending […]

12 Reasons Your Home Didn‘t Sell

Fill out this form to get this information-filled booklet as a PDF download.

  • This field is for validation purposes and should be left unchanged.

From Our Clients…

Yvonne Y.

I can’t say enough good things about Mike Patel! He’s professional, honest, hard working and just an overall kind person. He knows residential real estate like the back of his hand, an incredible negotiator! If you’re in need of a local Realtor look no further.

Read More Reviews »

What’s Your Home Worth?

I am the premier agent to turn to when you are ready to list your property to sell quickly and at top dollar! I compare other properties in the local market to make sure we list it at the right asking price.

FREE Home Valuation

Mahesh Mike Patel

  • Call/Text: (714) 470-8600
  • mike@mikepatel.com
  • 8028 S Santa Ana Canyon Rd Anaheim Hills, CA 92808

© 2021 Mahesh Mike Patel, CA BRE# 01146880 | All Rights Reserved

Agent Reputation – Real Estate Website Design

Privacy Policy | DMCA | Sitemap