Q: Why Has Our Housing Shortage Been Amplified?

Connecticut Real Estate Expert Andy Sachs

Since the coronavirus hit, our shortage of supply has only been amplified.
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Today I want to talk about a trend we’ve been noticing since the beginning of the winter market. Before the coronavirus hit, we were experiencing a shortage of supply, but now that shortage has been amplified. With more and more buyers coming out of New York, we have a need for supply. Homes that are priced well and in good condition are attracting multiple bids and generally last less than 72 hours on the market.
In my 15-year career, I’ve never seen this happen and I don’t know how long it will last, but it’s worth knowing whether you’re a buyer or seller. If you’d like to talk more about this topic or have any other real estate needs, don’t hesitate to reach out to me. I’m here to help.