Realty experts say low interest rates are causing a boom in the housing market, leaving buyers with limited options.
Local realtors say buying a house isn’t as easy as it used to be pre-pandemic. Prices are soaring and inventory is hard to come by, especially here on the Central Coast.
“There are a lot of buyers out there but not a lot of homes,” said Haven Properties realtor April Dean.
It’s a problem many Central Coast residents have encountered in recent months.
Dean attributes this housing shortage to an influx of residents from nearby cities and out-of-state buyers who want to live on the Central Coast.
The demand from buyers lessened the inventory available leading to rising home costs.
“This time this year we’re seeing about half the inventory as we normally see,” Dean said.
She says many homes are selling for more than the original asking price.
“Right now, if they’re priced right, they’re gone within the first week. So we’re seeing…