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The Alabama Gulf Coast has been experiencing a historic seller's market, meaning more people want to buy a home than there are homes available, and the shortage of available homes for sale will likely continue.
We've discussed in a previous post how the combination of delayed sales due to COVID-19, historically low interest rates and a rise in the average amount of time between moves have caused the shortage of homes for sale in our area. But what can be done to meet the demand? Put simply, either more people opt to sell their existing homes or more homes need to be built.
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