Home Real Estate Low supply and high demand drive housing market | Business

Low supply and high demand drive housing market | Business

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One day was all it took for the “for sale” sign John Alegria placed in the front yard of a Victoria home to transform into a “sold” sign.

The home, nestled deep within a quiet Victoria neighborhood on Taos Drive, didn’t last 24 hours on the market, said Alegria, a realtor with Greg Spears Realty. Upon seeing Alegria put up the “sold” sign, a neighbor approached and asked if Alegria thought his home could sell as well. Alegria’s response was one of warning: Yes, the home could sell — for good money — but make sure to have somewhere to move after it’s sold because homes are scarce.

The housing market is in the midst of a statewide period of healthy demand and depleted supplies, and it only takes one look to see that the Crossroads is not bucking that trend.

Demand for homes shot up during the course of the…

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