What Record-Low Housing Inventory Means for You
Feb 25, 2022
Email US
Click to Email Us
The real estate market is expected to dovery wellin 2021, with mortgage rates that are hovering at historic lows and forecasted byexpertsto remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, theNational Association of Realtors(NAR) released theirExisting Home Sales Report, which shows that the inventory of homes for sale is currently at an all-time low. The report explains:
Total housing inventory at the end of December totaled 1.07 million units, down 16.4% from November and down 23% from one year ago (1.39 million).Unsold inventory sits at an all-time low 1.9-month supply at the current sales pace, down from 2.3 months in November and down from the 3.0-month figure recorded in December 2019. NAR first began tracking the single-family home supply in 1982.
(See graph below):
What Does This Mean for You?
If Youre a Buyer:
Be patient during your home search. It may take time to find a home you love. Once you do, however,be readyto move forward quickly. Getpre-approvedfor a mortgage, be prepared to make a competitive offer from the start, and know that a shortage in inventory could mean youll enter abidding war. Calculate just how far youre willing to go to secure a home and lean on your real estate professional as an expert guide along the way. The good news is, more inventory is likely headed to the market soon, Lawrence Yun,Chief Economistat NAR, notes:
"To their credit,homebuilders and construction companies have increased efforts to build, with housing starts hitting an annual rate of near 1.7 million in December, with more focus on single-family homesHowever, it will take vigorous new home construction in 2021 and in 2022 to adequately furnish the market to properly meet the demand."
If Youre a Seller:
Realize that, in some ways, youre in the drivers seat. When theres a shortage of an item at the same time theres a strong demand for it, theselleris in a good position to negotiate the best possible terms. Whether its the price, moving date, possible repairs, or anything else, youll be able to request more from a potential purchaser at a time like this especially if you have multiple interested buyers. Dont be unreasonable, but understand you probably have the upper hand.
Bottom Line
The housing market will remain strong throughout 2021. Know what that means for you, whether youre buying, selling, or doing both.
Other Articles You May Like
A Special Visit: Meals on Wheels America President & CEO Joins Florida Chapter Conference
It was a momentous occasion in Bradenton on May 1, 2025, as we welcomed a very special guest Ellie Hollander, President & CEO of Meals on Wheels America. Her visit was more than ceremonial; it was a heartfelt celebration of community, service, and the vital work being done across Florida to nourish and support our seniors.Ellie flew in from the Washington, D.C. area as the keynote speaker for the Meals on Wheels Florida annual conference, proudly hosted this year by Meals on Wheels PLUS of Manatee. Ellies schedule was packed, but that did not stop her from doing an interview with MySuncoast ABC-7 telling viewers how critical the meal program is to our homebound seniors. Next, Ellie hit the road and delivered meals to some of our senior clients and talked with our volunteers. Ellie also stopped by our Friendship Dining Center program, and participated in a music game the clients love.The Members of the Florida Chapter of Meals on Wheels America named Maribeth Phillips, our President & CEO, as their Board President earlier this year. Maribeth invited Ellie to attend and kickoff the conference. Ellie shared valuable insights with the members in attendance, and her words reenergized the room!The conference included meal providers from across the state, with over 20 different organizations attending. Attendees also heard from Bob Blancato, Executive Director of NANASP, also from Washington, D.C.; Bradenton Police Detective, Jim Curulla on senior scams; Sandra Tapfumaneyi, Chief of Emergency Management Sarasota; Louise Gallagher on Senior Mental Health; and Jennifer Huber from FPL. Chef2Home provided a delicious breakfast and lunch.We are proud to be part of the national network of Meals on Wheels America and grateful to be a part of the state-wide chapter, Meals on Wheels Florida, both working every day to ensure no senior goes hungry.
Help Fight Summer Hunger in Manatee County
As summer approaches, many children in our community are looking forward to sunshine, fun, and time with friends. But for far too many, summer brings something else-hunger.When school cafeterias close for the summer, thousands of local children lose access to the nutritious meals they depend on. Families already struggling to make ends meet are faced with even more pressure. The emotional toll is real. No parent should have to worry if they can feed their child, and no child should go to bed with an empty stomach.At The Food Bank of Manatee, we are stepping up to meet the need. We partner with over 100 local food pantries across Manatee County to reach the families who need us mostbut we cant do it alone.This summer, our goal is to provide: 22,500 meals each week across the 9-week summer break. Thats more than 200,000 meals for children and familiesand every dollar makes a difference.Just $15 provides 10 meals; $30 provides 20 meals; a gift of $150 will provide 100 meals!We know that many in our community want to make a difference. With your support, we can ensure no child goes hungry during the summer months.Please consider making a gift today and sharing this message with others who want to help too. A link to our page is below. A $25,000 Matching Gift to feed children this summer has been offered by an anonymous fund at Manatee Community Foundation. Gifts will be matched $1 for $1 up to $25,000.The Food Bank of Manatee is the only food bank based in our county. We anticipate continued need as families look for nutritional support. Your help matters now more than ever! Please give today!Together, we can bring relief, peace of mind, and full bellies to those who need it most.
Celebrating the Heart of Our Mission: Volunteer Luncheon Honors Our Outstanding Volunteers
On Monday, April 7, 2025, we had the joy and honor of hosting our annual Volunteer Luncheon, a heartfelt celebration dedicated to the incredible individuals who make our mission possible each and every day. Held in a spirit of gratitude and community, the event brought together volunteers with over 100 hours of service for a beautiful luncheon provided by Metz Chef 2 Home. The highlight of the event was the presentation of awards to several outstanding volunteers who have gone above and beyond in their service. From delivering meals with a smile to lending a helping hand wherever needed, these volunteers embody the true spirit of giving.The 2025 award recipients included:Champions Circle: Ten Years of ServiceDan WilhelmChampions Circle: 300+ Hours of ServiceTerri HillChampions Circle: 300+ Hours of ServicePat McDonaldOutstanding Food Bank Volunteer: Terri HillOutstanding Volunteer Ambassador: Veronica Brandon-MillerOutstanding Youth Volunteer: Jonathan MaassenMost Generous Group Ambassador: Lakewood Ranch Elks LodgeOutstanding Volunteer Group: First WatchOutstanding Administrative Volunteer: Barbara BrownOutstanding Friendship Dining Center Volunteer: Pam O ConnorOutstanding Car Loader: Charlie GunnOutstanding Warehouse Volunteer: Lana PaulRookies of the Year: Jeff and Christy MohlerOutstanding Daybreak Adult Day Center Volunteer: Larry BreidenbachOutstanding Telephone Reassurance Volunteer: Reina HuertaVolunteer of the Year: Terri HillTo every volunteer who gives their time and heartthank you. Our Volunteers are the reason we are able to serve our neighbors in need with care, dignity, and hope. We look forward to another year of making a difference together.