SPRINGFIELD, Mo. — The housing market in the Ozarks is getting even busier for realtors and buyers.
“Right now, my team is just running constantly,” said Mike Brown, with Browntown Homes – Keller Williams Realty. “There is still a lot of activity out there all over the place.”
Sellers are cashing in with the economics of supply and demand. This time of year usually has about 3,200 homes available in the area. There are currently just 665.
“Because we have such a supply shortage of homes right now, a shortage of homes for sale right now, I don’t see that shortage going away any time soon,” said Leena Robertson, the 2021 MLS president with Greater Springfield Board of Realtors. “It is tending to push the values up much higher than they ordinarily would be.”
There has been a slight increase in the number of homes available in recent weeks, but Brown doesn’t believe there will be any repercussions when things settle down.
“While agents are waiting to see when the market balances, there aren’t many fears of a market crash like 2008,” said Brown.
Realtors said there is what they call “hidden inventory” out there, which are homes of people who want to sell their homes, but they hold onto them because there are no new homes for them to move into.