Supply And Demand

Remember Fairfield County in 2008?

If you're in the market to buy or sell a home here in Fairfield County, you've probably already noticed that there are almost no homes for sale. Here's the real reason why.

Nearly 15 years ago, back in 2008, the housing market pretty much collapsed. And it was nationwide, not just here in Ohio. What happened after that is the reason why we have so few homes right now: many homebuilders went out of business!

They stopped building. Home prices nosedived, and it just didn't make sense for most homebuilders to keep building like they were before.
If you look at the actual statistics, it shows that we didn't build even CLOSE to as many homes as needed to maintain a balance (based on population growth).

Fast forward to 2022, and millennials are finally getting to the age where they're starting to buy homes. And they're the largest generation in American history! This is a demographic double whammy: we didn't build enough homes for an entire decade, and at the same time the largest generation in American history finally wants to move out of their parents' basements and buy homes.

These are a few of the reasons why we have such limited inventory for sale right now.
There are simply not enough homes to supply all of the demand.

It's also important to remember that this means home prices aren't coming down anytime soon. This is all based on supply and demand. We're not in a bubble. So, it doesn't make sense to "wait" until home prices come down, because they probably won't. What will happen is that interest rates will continue to rise, meaning your monthly payments go up.

So, now is the time to buy. Don't wait. And for those thinking of selling, there has probably never been a better time in the history of the United States of America to sell a house.

As the seller, you have the advantage right now. It's a seller's market.
If you'd like to connect, I'd be happy to help you start the process. My cell is (614) 633-7119.

- Jared