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Apr

05

Shortage of Homes Hits the Midwest

By Tony Seruga

Buyers are now competing for low supply in cities such as Omaha and Minneapolis, as well as in such unlikely markets as Buffalo, N.Y.

Home buyers in hot housing markets from San Francisco to Brooklyn have grown accustomed to bidding wars, waived home inspections, and rapid-fire offers. If you’re house-hunting in Omaha, Neb., Grand Rapids, Mich., or Indianapolis, you might want to brace yourself for similar tactics. Those cities and several others saw sharp declines in the number of homes for sale over the year ending in February:

Shortage of Homes Hits the Midwest

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