We’ve all heard about the hot market here in Dallas, but have you heard of people experiencing the appliance shortage? You might think this might not be crucial until a fridge goes out in the middle of summer, and your new groceries get ruined but you can’t get a new one.
When you make the transition from being a renter to becoming a homeowner, you typically do not have a fridge, microwave, or washer and dryer. Therefore, you have to go out and buy them as soon as you buy your first home to be able to carry out daily tasks. On the other hand, sometimes negotiations are made between the seller and buyer where the buyer is allowed to keep some if not all of these appliances when they move in. This is highly beneficial to buyers here recently, especially if the home appliances are fairly new. The reason being, we have been facing a noticeable home appliance shortage in 2021, and this can be a highly stressful situation for first-time buyers in the Dallas housing market.
As the Dallas real estate market persists to boom- with the population continuing to grow, buyers offering thousands above asking price, and a constant race for new inventory and construction. These recurring patterns are creating a domino effect in the Dallas housing market. The reason being, the industry is intertwined with others such as home appliances. As a handful of brand new buyers move into their very first home, the need for home appliances is being amplified. In addition, those coming from out of state, usually do not care to bring their bulky home appliances with them on the long journey. This is simply too much fo a hassle and inconvenience. As a result, the buyers coming from out of state are being faced with a similar problem in finding appliances for their new home. All of these scenarios are causing a very high demand in the home appliance industry.
With an unpredictable high demand, comes an unpredictable low inventory scenario. The production chain simply can not keep up with such high demand. Not to mention, the recent and current pandemic that shut the world down for months of a time was also a big factor in the low inventory of home appliances today. Luckily, as inconvenient it may be for the first-time buyer and those who move here from out of state, the home appliance shortage does not seem to be causing as much stress and concern as the market altogether.