Developers and realtors battle Fort Wayne housing shortage

Realtors say there aren’t enough homes to sell and the housing market is strained now more than they’ve ever seen.

Houses are selling quickly in fort wayne right nowso quickly... realtors say there almost aren't enough to sell.

Fox 55's drew frey explains why developers say the housing market is strained now more than they've ever seen.

3 housing developer lonnie norris knows firsthand how thin the market is for potential home-buyers.ln: realtors just don't have much to sell.

We've noticed in the last couple weeks, there was less than 200 houses on the market in the whole fort wayne area.

That's just unheard of.

Developer jamie lancia says those 200 homes are no where near enough.jl: when we look at the existing housing market and look at the low inventory levels, we see that our marketplace is short by a couple thousand homes.standup: developers say they're trying to keep up with demand, as more people move to fort wayne, while other existing residents are looking for a change of scenery.

Ln: i think i speak for a number of builders when i say, wow are we busy.realtor patrick harris says many people are hesitant to sell their homes right now.

So those that do go on the market, aren't available for long.ph: in a market like this, properties are selling in a matter of hours, not in a matter of days like they historically have.and as housing demand increases, so do prices for both buyers and builders.

Ph: it's just a very bad picture as far as supply versus demand.

It's doing insane things to the market as far as values and everything else.harris says he's seen clients jump on offers just to guarantee a sale, which he hopes doesn't lead to buyers remorse.lancia and norris hope their construction can help ease the burden.in fort wayne, i'm drew frey, fox 55 news.

3 harris also advises anyone thinking about looking for homes right now to get pre- approved for a mortgage... since their dream home may not be on