In the U.S. the supply of single family homes for those that want to own their own place has become tighter and tigher.
Many believe the main culprit is the pandemic, with less retirees selling and downsizing into a retirement place and the moratoriums keeping any and all foreclosure inventory off the market.
There is another factor though, and its been going on for about a decade already...
The boom on the real estate investor...
Let's be real here, ever since HGTV and such gained popularity with all the house flipping shows and what not, real estate investing has become popular and the cool thing to do.
The reality is single family homes is generally the lowest barrier to entry and with super low interest rates a lot of John and Jane Does can grab that second home to hold as an investment property.
For each and every time that happens, it is one less home for a primary homeowner to purchase. And so the snowball continues.
Very interesting dynamic in the overall market and supply side issue for sure.