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Local realtors report drop in inventory

Posted at 6:47 PM, Aug 19, 2020
and last updated 2020-08-19 18:47:24-04

CHARLOTTE COUNTY, Fla — Charlotte County realtors reported their inventory is down by more than 20 percent compared to last summer. Some say it’s partially because homeowners don’t want to gamble with the homes they already have.

The pandemic isn’t stopping Realtor Kari Wilbanks from selling homes.

She’s doing more virtual tours since more people are looking to buy a new home, but she has a limited supply to offer.

“We have more buyers, but less inventory,” she said. “Smaller more inexpensive homes are flying off the market. Usually, within hours of being listed. So, we definitely have a severe lack of inventory.”

Realtors in Charlotte County collectively reported to Stellar MLS, they have 2,093 less homes to offer now than they had in July 2019.

“We also see a lot of people who are afraid to move, because of the coronavirus. A lot of jobs are in question,” said Wilbanks.

She says even though the interest is there, some people are holding back on making such a big purchase.

“People are always going to need housing. At the same time during shaky situations like these, there are people who are afraid that the market is going to crash again. And, do I foresee the market crashing? I foresee some kind of influx,” she said.

Wilbanks says that’ll mostly be due to unpaid mortgages if people don’t the funds to pay once the Florida foreclosure moratorium is lifted September 1st.

If you’re looking to buy a home, support is available. Wilbanks says Lee county has funding for first-time home buyers in Lee, Charlotte and DeSoto counties. The state also offers bonds of up to 75 hundred dollars.

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