Realtors expect to have more houses on the market soon in York County
Housing sales in York County have proved consistent for the first three months of 2021, and Realtors said that trend should continue well into the spring market with increased inventory.
Through the end of March, 1,387 homes had been sold this year, a 9% increase over the same period last year, during which 1,277 homes were sold, according to statistics provided by the Realtors Association of York & Adams Counties.
March's housing sales remained level relative to last year. This year, 523 homes were sold, and in March 2020, 525 homes were sold.
"What we're looking at compared to last year is how strong these numbers are," said RAYAC President Tina Llorente, adding that so far April has been a consistent month for Realtors too.
A lack of inventory has continued to be the prime driver of the strong market thus far, since having fewer homes on the market has motivated buyers to jump on the opportunity to buy, Llorente said.
This shortage of homes is illustrated through the construction of new homes — which in the U.S. has been below the 50-year average of completed single-family housing for the past 13 years, Llorente said.
The COVID-19 pandemic, the banking industry's tightening of loan policies for contractors and the sharp increase of the price of building materials this year are causing fewer homes to be built or or construction to be stalled, Llorente said.
Still, Llorente said she expects an uptick of inventory later in the year.
As families finish up the school year, more houses are expected to go up for resale, too.
Several school districts, including Northern York and South Western, saw significant increases in the number of houses sold in March.
In March, 27 houses were sold in the Northern York School District, a 69% increase compared with the previous March, when 16 houses were sold.
South Western saw a 56% increase in home sales relative to the same time last year.
Southern York and West York school districts experienced a decline in home sales, reporting decreases of 38% and 26% respectively.
Housing sales are broken down by school district in RAYAC's report.
"It's a very strong market, and we're definitely expecting more inventory later in the year," Llorente said.
— Reach Tina Locurto at email@example.com or on Twitter at @tina_locurto.