Prospective home buyers facing shortage of properties

FRESNO, Calif.

The Fresno Association of Realtors says there's a limited number of homes now up for sale.

Lisa Cole and her husband Nate are anxious about putting in a bid for their first home.

"The house that we looked at today is the only house we've looked at and it is the only house we want so we hope we get it. I'm pretty nervous about it," Cole said.

The couple lives in Sacramento but they hope to move into the Sunnyside area to save money.

On Tuesday they shared their worries about getting into a bidding war with other buyers.

"When we looked at the house there were already other people looking at the house when we showed up," Nate Cole said.

The Fresno Association of Realtors says there are about 18 hundred single family homes available in Fresno and Clovis currently on the market.

The Association says that's only about a two month supply.

Fresno State marketing professor Dr. Bill Rice says there's a reason for the shortage.

"People haven't been building as many houses so you have people coming in because of lower prices in other areas buying homes so we have a smaller inventory here," Rice said.

Joanna Odabashian with Fresno's Keller Williams realty says it's a tough market for buyers.

"Buyers are going to compete against each other to purchase the same homes and they are going to find themselves in situations where they have multiple counter offers out," Odabashian said.

Realtors are now encouraging potential sellers to consider putting their homes on the market, but until there are more options out there, the Cole family will keep vying for the Sunnyside home.

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