HATTIESBURG, Miss. (WHLT) – The real estate business has changed over the last year in terms of pricing. Hattiesburg realtor Natalie Graham said the cost isn’t stopping buyers.
“Building costs is at an all time high and contractors are still building and taking requests for custom homes but prices are 30 to 40 percent more than what they were pre-COVID,” said Graham.
According to the National Association of Realtors, there are more than one million real estate agents and less homes for sale. Graham explained the reason for the demand versus the supply and said since the pandemic they’ve actually seen more sales.
“When COVID hit, I thought the housing market was going to take a dip,” she said. “It was the best year that I personally had in real estate. I closed close to 50 homes between Hattiesburg and the Gulf Coast.”
Graham said the demand is so high she has a waiting list– the inventory is low and the demand is high among buyers.
“Homebuyers in general are paying those premium prices right now, and sellers are also getting top dollar for their property and having that inventory available is just not there.”
One home in Hattiesburg sold within three days.
“Multiple offers within 48 hours, and the house was under contract within 72 hours. The demand is unlike anything I’ve ever seen since I’ve been in the business,” said Graham.
She also said many homes are selling well above the initial asking price.