In the News: Wall Street Journal – May 13, 2021 – Why Homes for Sale in These Housing Markets
Nearly Disappeared During Covid
In the past whipsaw pandemic year, the U.S. real-estate market went from essentially shut
down to an unprecedented rally. Today, increased demand has dwarfed the supply of
homes coming on the market in many areas. The result is a severe inventory shortage
spanning much of the country.
Cape Cod, Mass.
This peninsula has always been a popular vacation and retirement destination for New
Englanders. But demand for Cape Cod homes has skyrocketed during the pandemic, as
people flock here in search of rural surroundings and ocean access, said local real-estate
agent Paul Grover of Berkshire Hathaway Home Services Robert Paul Properties. The
Cape is easily reachable by car at a time when air travel is still fraught, he said.
But Cape homeowners aren’t selling. “They’re using the home, or the family is using the
home, more than they had been,” Mr. Grover said.