Almost every industry is currently struggling with supply chain disruptions. This also applies to the rent U.S. housing market, where buyer demand far exceeds housing supply.

Purchaser demand is very strong right now. The National Association of Realtors (NAR) just released their latest Existing Home Sales Report which reveals that sales surged in January. Existing home sales rose to a seasonally adjusted annual rate of 6.5 million – an increase of 6.7% from the prior month, with sales up in all regions. However, there’s one big challenge.

Inventory Is at an All-Time Low

Because purchaser demand is so high, the market is running out of available homes for sale. The above-mentioned report states that the current months’ supply of inventory of homes for sale has fallen to 1.6 months. This prompts Lawrence Yun, Chief Economist at NAR, to say:

“The inventory of homes on the market remains woefully depleted, and in fact is currently at an all-time low.”

Earlier this month, realtor.com released their inventory data for January. It helps confirm this point. Here’s a graph comparing inventory levels for January over the last six years:

Reasons Behind the Popularity of NFTs

As we have seen, there are several reasons why NFTs are becoming more and more popular. Some of the most important reasons include their security, flexibility, and ability to be used for a variety of purposes.

First, NFTs are secure because they are stored on the blockchain. This means that they cannot be hacked or stolen. In addition, since NFTs are digital assets, they can be easily accessed and used by anyone anywhere in the world. Lastly, NFTs can be used for a variety of purposes, including trading, investing, and gaming. This makes them a versatile asset that can be used in a variety of ways.

Future of NFTs

The future of NFTs looks bright. There are many exciting projects in the works that will use NFTs in innovative ways. For example, one project is working on a way to use NFTs to create a decentralized marketplace for digital art. This would allow artists to sell their work directly to buyers without the need for a third party. Another project is using NFTs to create a secure voting system. This would allow people to vote securely and anonymously online.