Low inventory: There's not an app for that

Teresa Boardman
Inman News

Technology can solve many problems, and it certainly makes it easier to conduct business in an organized and cost-efficient way. But there are problems -- or maybe I should call them challenges -- that no one has an app for.

Right now there are not enough homes on the market in my area. Buyers who want to work with me are asking for help finding that perfect home, and I am struggling to find a home that might work for them.

Normally I would be showing at least 10 homes on an average weekend in January. I met with one buyer last weekend. This weekend I am scheduled to show one property that's a long shot for this particular client, and we both know it.

It is just wonderful that interest rates are low and my buyers are preapproved and ready to go. Except we are not going anywhere because I don't have anything to show them right now.

Each morning, I walk from my bedroom to my office. After stopping at the coffee pot on the way, the very first thing I do when I log on to my computer is look for new listings. On a good day there are 15 to 17 new listings.

Not a lot to choose from -- especially considering that is for the entire city, and encompasses all price ranges and housing styles.

Currently there are only 793 homes on the market in St. Paul, Minn., and only 614 that don't already have offers on them. You'd expect at least twice as many homes to be on the market, and 2.5 times more listings would be better.

Active listings in the St. Paul, Minn., market, January 2003-2013

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