The Housing Shortage and Our Solution
Over the past year, the housing market has seen some unique changes. Buyer demand has increased significantly, as Americans everywhere experienced shifting preferences for what they wanted out of their homes. Yet, the increased demand has been met with roadblocks. According to Realtor.com, 2020 had the lowest housing inventory on record, with a 39.6% decline across the nation. This has left potential buyers anxious from being unable to find a home, as well as builders and realtors without the supply to sell at their usual frequency. How did this happen?
The COVID-19 pandemic played a large part. Many apartment dwellers and homeowners were forced to reevaluate their housing priorities in ways like never before. This often included migrating out of dense cities into more rural areas and being able to accommodate work-from-home and schooling as more time was spent in the home. COVID has also prompted issues for homebuilders, causing supply chain problems and increased costs of labor and building materials. These situations, paired with the millennial generation seeking to put down roots with home ownership, have made homes in high demand with short supply.
However, there are methods of finding a new home without having to wait years for the perfect one to pop up in the location that you want! BAGI has several solutions such as:
Our Find-A-Home feature allows prospective homeowners to find and learn about the perfect community in the Greater Indianapolis area. The interactive map even lets you narrow down specific areas that are on your wish list and find others you may not have even known about.
Looking for a space to start your dream home? Need-A-Lot lets you explore available lots and BAGI members that are building in the areas of Indy you love – just select your favorite and start searching.
If you already have a lot, our On-Your-Lot map allows you to find builders in your area. The BAGI membership includes the region’s best and most well-respected builders, each capable of crafting high-quality, beautiful homes.
Our New Home Indy App allows realtors and potential homebuyers the opportunity to search for new home communities in the Greater Indy area and connect with builders.
Whether it’s in the heart of downtown Indy or in the booming suburbs, we have the tools for both buyers and sellers to find the perfect spot to build new homes and achieve the American dream.