Supply having trouble keeping up with demand for housing

Supply having trouble keeping up with demand for housing

JONESBORO, AR (KAIT) - The need for housing in Jonesboro is great while the number of available houses on the market is dwindling, area realtors said Monday.

Realtors said there are not enough homes available in a certain price range, with some families trying to find homes that cost around $100,000 to $160,000. There also appears to be a shortage.

Local realtor Austin Greene told Region 8 News that there are two things that have led to the shortfall - younger millennials are not buying larger, more expensive homes and more people are renovating their homes instead of buying new ones.

"I've even called people, for sale by owners, homes that aren't even on the market, go up and knock on their door, call them. Would you be willing to sell your house for X amount, just because there is that supply and demand, and right now the supply, in that lower price range, it's just not there," Greene said.

However, Greene said that when houses in the lower range are available, they sell very quickly.

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