The main cause of the ultra-low inventory is from homebuyers purchasing their forever home – whether they knew it at the time, or not. Between today’s higher rates and the difficulty of buying a better home, just about everybody is stuck in their current house.

How can today’s buyers get a leg up?

Just about everyone wants a newer house vs. older house.

But look at the data.

La Costa Valley, a 25-year old master-planned community of 1,073 houses has ZERO homes for sale today. La Costa Oaks South? That’s right – another zero!

More empty-nesters are staying put, and as a result, the market for newer homes will likely be frozen up for decades due to the lack of inventory.

Predictably, the percentage of older-home sales is on the rise:

The number of estate sales should stay fairly constant, and probably increase in the coming years – and they tend to be the older homes. I know you want to buy a newer home……but those who can get comfortable with fixing up an older home will open up possibilities that other buyers will be ignoring.

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