Record Low Housing Supplies in the Ozarks

SPRINGFIELD, Mo. -- This year's spring home-buying season isn't going as smoothly as anticipated.

Real estate expert Alex Doubet said in a statement "record low housing supplies are driving up prices and curbing sales, especially for millennials looking to buy starter homes."

Susan Stowe, the listing and relocation specialist for the Stowe Realty Group at Keller Williams said it's a very unusual year.

"This is a unique situation because we don't have as many homes on the market as we should have," said Stowe. "So it's left demand for the houses that do get listed."

She said one of the reasons is the increase in available jobs in Springfield.

"There's a lot of hiring going on at a corporate level, hospitals are hiring at a great number right now. So there is a demand for those homes," said Stowe.

As for millennials, she said it's best to look at listings under their budget.

"A millennial trying to buy an HDTV ready home doesn't always match up with the budget that they have," Stowe said.

Especially in one of the most difficult years for home buyers, listings disappear fast.

Realtors said if you see a listing you like, make an appointment immediately because it could be gone within a few hours.

"So many times buyers want to wait till they get off work, or they want to wait till the weekend to go look," Stowe said, "and the house is gone by then."

"We're searching for houses, we're trying to find something that we like, and as soon as a house went on the market it felt like it was snatched up in a couple of hours," said Katie Bowen, a homeowner, "so we would go to an open house, but then the open house went away because the house under contract already."

Houses sell out so fast, a lot of buyers are skipping inspections altogether. 

Bowen said it helps to make a list of things that are important to you in a house, as it can help you make a decision faster.

More Stories

Latest News

Video Center