The housing market has been a hot topic lately, and for good reason. A recent infographic by Keeping Current Matters sheds light on the low housing supply dilemma happy in both Metro DC and around the country.

In a nutshell, the current housing supply shortage is driven by several factors:

High Demand

A surge in home buying due to historically low mortgage rates and pandemic-related reevaluations of living spaces.

Low Inventory

Builders are struggling to keep up with the demand, leading to a diminished housing inventory.

Delayed Construction

Supply chain disruptions and labor shortages have hampered new construction.

Equity

Homeowners are holding onto their properties, limiting the availability of existing homes.

Understanding these factors helps clarify why the housing market is so competitive and home prices are rising. If you’re in the market, being well-informed is key to navigating these challenging conditions.

Ready to start your home search in Washington DC, Bethesda, Chevy Chase, or Northern Virginia? Give The Estridge Group a call today!