In housing frenzy, inventory falls 50% as sales rise 30%
Written by Lauren Lamb on October 12, 2021
The demand is high, but the inventory is low. The residential home market has been in a frenzy in the past year.
“When covid hit, there was an acceleration of buyers that were going to buy homes because they were about to be locked up under quarantine,” Mike Pappas, CEO & president of the Keyes Company, said from the company’s Global Symposium in Dubai. “What happened in the last year and a half, we haven’t seen a frenzy like that since the roaring ’20s or mid 2000s.”
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