No, we're not in an 80s movie where the main character creates a machine and shrinks his children, the houses haven't been shrunk, they've disappeared !!!!

Anyone looking for a house here in Orlando, or anywhere in the United States for that matter, is faced with a scenario like the one in the movie, where the houses have disappeared and it seems impossible to find a house to buy.

A year ago, before the world was plunged into a health crisis and a pandemic brought the world to a standstill, the inventory of homes in Orlando was already very low and it was clear that there was a shortage of homes for sale in Orlando.

When many homeowners postponed their plans to sell, while more buyers wanted to take advantage of record low mortgage rates and buy a home, the housing stock fell even further.

Experts consider this the biggest challenge facing an otherwise heated market, as buyers continue to compete for homes. Like Danielle Hale, Chief Economist of realtor.com, explains:

"With buyers active in the market and the seller's share decreasing, the houses are selling fast and the total number available for sale at any one time continues to fall. In January as a whole, the number of houses for sale fell to less than 600,000. "

Every month, the realtor.com releases new data that show the year-on-year change in the stock of existing homes for sale. As you can see from the map below, the national inventory is 42.6% lower than it was at this time last year and in Florida the housing inventory reduced by 39.2%.

The reason for this is not that fewer houses are being put on the market for sale

Although there are fewer homes listed at the moment, many homes are simply selling faster than they are counted as current inventory.

The market is so competitive that some owners are warning in their house ads that they will wait a week to make their decision to ensure they get the best deals on the table!

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 real estate market: houses are being listed for sale, but not at a rate that can keep up with the strong demand from competitive buyers.

In the same realtor.com report, Hale explains:

"O time on the market was 10 days faster than last year, which means that buyers still need to make decisions quickly in order to be successful. Today's buyers have many tools to help them do this, including the ability to be notified as soon as homes that meet their search criteria hit the market. By tailoring search and notifications to homes that are a solid match, buyers can act quickly and compete successfully in this fast-paced real estate market. "

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Good news for homeowners and investors

The health crisis has been one of the main reasons why potential sellers have put it off for so long, but as vaccines become more widely available, homeowners will start to act. Ali Wolf, Chief Economist of Zonda, confirms:

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

With more homeowners preparing to sell later this year, putting your home on the market early is the best way to ensure your listing outshines the rest.

When you're ready to sell your house, you'll probably want to sell it as quickly as possible, for the best price and with little or no hassle.

If you're looking for these sales conditions, you'll find them in today's market. When demand is high and stock is low, the sellers have the ability to create ideal terms and deadlines for the sale, making now an exceptional time to change.

Summary

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Any doubts?

Now that you know that housing has not shrunk, but that inventory is at an all-time low in the United States. We can help you understand the behavior of the real estate market and consider investing in vacation homes in Orlando. To make the most of all the tips we've given you and go even deeper, you can talk directly to our relationship agents. They are always happy to talk to you to answer any questions you may have about investing in Florida.

In this article we cover Disney's secrets for keeping mosquitoes away from the parks in Orlando. If you want to read more content like what we've covered in this article, just stay tuned here on our blog.

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Did you like the article? Keep an eye on our blog! Looking to live or invest in real estate in Florida? Check out the list of houses for sale in Florida that we've selected for you!

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