Seller’s market causing inventory shortages in Wausau

Inventory shortages can be seen in Wausau because it's a seller's market
Published: May. 31, 2023 at 7:47 AM CDT
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WAUSAU, Wis. (WSAW) - Four years out from the pandemic, home buying and selling are at an all-time high, but a need for inventory has changed the way people buy homes.

“There’s low inventory. There’s not a lot out there. Buyers are willing to overlook, minor cosmetic things and sometimes even larger ticket items just so they can get a house,” said Brittany Burns, Realtor at First Weber Wausau.

HGTV makes it look easy, but realtors say fixing up a house is not as simple as it seems on television.

“We know that is one of the best ways to build wealth. So, it’s just about ensuring that you have proper advocacy from a realtor and then getting accurate quotes from contractors and things like that, so you know what you’re walking into,” said Burns.

The way agents interact with the public has changed with time, and she said social media has helped.

“I love to use it just to show my clients and even local community members, ‘Hey, this is the personality that you’re getting... in something that can be a stressful situation like buying or selling, you want to be able to work with someone that’s a little bit more relaxed, can make something fun,” said Burns.

Another realtor says it is easier for someone to sell than to buy a home, but it could cause issues when trying to move.

“I think some of the challenges that sellers face right now would be even if they are confident that they want to downsize, or find another home, they’re just not sure that they’ll be able to find something,” said First Weber realtor Ava Fictum.

Both said most people look to move during the summer months, before school begins.