The US real estate market is currently experiencing a shortage of inventory for realtors to list properties. This is due to a number of factors, including:

• The COVID-19 pandemic: The pandemic led to a surge in demand for housing, as people sought more space to work and live. This outpaced the supply of available homes, leading to a shortage of inventory.

• Low interest rates: Low interest rates made it more affordable for people to buy homes, which also contributed to the demand. As a result, most homebuyers are not willing to sell their current homes and purchase new ones at higher rates today, creating a hesitancy in the market. Many are hesitant to sell and repurchase a new home at a higher rate.

• Investor demand: Investors also bought up a large number of homes during the pandemic, which further reduced the inventory available to homebuyers.

Despite the overall shortage of inventory, there are a few states that are expected to see an increase in inventory in 2023. According to a report by Knock, these are the top 10 states that are expected to see the biggest gains in for-sale homes in 2023:

• Salt Lake City, Utah
• Dallas, Texas
• Denver, Colorado
• Charlotte, North Carolina
• Memphis, Tennessee
• Las Vegas, Nevada
• Charleston, South Carolina
• Colorado Springs, Colorado
• St. Louis, Missouri
• New Orleans, Louisiana

These states are all experiencing a number of factors that are contributing to an increase in inventory, including:

• Population growth: These states are all growing in population, which is leading to an increased demand for housing.

• New construction: There is more new construction happening in these states, which is also adding to the inventory of available homes.

• Outmigration: Some of these states are experiencing outmigration, which means that people are moving away from the state. This can lead to an increase in inventory as people sell their homes and move away.

This could provide opportunities for realtors to list properties in the states that are expected to see the biggest gains in inventory. If you are a realtor, you may want to consider focusing your efforts in these states.

Are you a realtor looking for opportunities to list properties? Consider focusing your efforts in the states that are expected to see the biggest gains in inventory in 2023.

Contact us today to learn more about how we can help you reach more buyers and sellers in these states.

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