As the home-buying season gets underway in Lawrence, those in the industry say the city is facing a historic shortage of homes on the market that requires city leaders to take action. Lawrence Board of Realtors President John Huntington said that in his 30 years of experience, he has never seen such a low inventory of homes for sale. As of this past week, he said, only 44 homes were on the market in Lawrence. “We’ve never come even close to numbers like this,” Huntington said. By contrast, around this time last year there were roughly 400 local listings. The board sent a letter to the Lawrence City Commission this past week stating that the city’s housing shortage had hit a “critical crisis” and that the board is seriously concerned about how it will affect housing affordability as well as other economic factors.
Source: LJWorld.com.
