LOWNDES COUNTY, Miss. (WCBI)- If you’re looking for a home to buy, you aren’t alone.
Buyers are looking to quickly seal the deal on properties.
However, finding a home to purchase, at the right price, is becoming more of a challenge.
There simply aren’t enough homes for sale.
The demand from buyers is adding more to the price tag and it’s limiting materials for home-builders.
Residential and commercial properties are selling fast.
Here in Columbus, Brandon Shaw with Crye-Leike Properties Unlimited says the company has reached almost 26 million dollars in sales this year.
” As of this morning we’re down 305 active listings in eight counties, that’s residential listings. I started 5 years ago and that number was around 800,” said Shaw.
Since 2021, a realtor closed 34 homes.
” Right now, we’re actually on track to exceed last year’s numbers believe it or not,” said Shaw.
However, the price of getting people into those properties is a bit more expensive.
“Personally I believe the biggest factor in all this is that we don’t have enough inventory,” said Shaw.
Building materials are up by 350%, limiting brick, lumber, and granite.
Contractors, like Kenny Frye, are trying to finish those new developments with a time crunch.
” We’re looking like in the next 6 to 8 months probably building out at least 18 homes right here. We can’t get them built before they’re sold. Normally we build houses then sell them but right now we don’t have that opportunity,” said Frye.
Moving into your dream home may require a longer time frame with limited supply.
” Anything you try to order is 10-12 weeks out and it’s really hard to make it work on a daily basis. So you have to buy a lot of material every month even if you have to stock pile it or whatever. I do on the average of 10 to 20 home inspections per week,” said Frye.
In turn, people are purchasing existing properties as soon as they go on the market.
“If it’s price right people do their research and if it’s price right it usually has multiple offers on the house,” said Shaw.