According to Forbes, based on data from Redfin, Irving, TX. rounded out the top 5 cities currently with the lowest housing inventory levels. Joining the West Coast likes of Bellevue, WA., Eugene, OR., Sunnyvale and Irvine, CA., these cities are experiencing supply issues that are likely to continue into 2022.
Specifically for Irving, as our population continues to rise, housing pressure continues to increase. September 2019 saw inventory levels reach 465 available homes, this number declined to 363 in September 2021 and then plunged to the current level of 162 available homes. Just from September 2021, this represents a 55.4% decline. Expect local housing sales prices to continue exceeding their initial listing price due to the supply/demand that we are currently experiencing.