Why Is There No Inventory?
We all feel it.
The moment you’re ready to buy, but it seems like there’s nothing on the market. And there’s this idea that inventory will “drop” at some point — that a wave of great houses is coming.
It doesn’t.
Part of it is structural. We underbuilt for years, and new construction never caught up. And nationally, people are simply staying in their homes longer than they used to.
Americans over 70 (those Baby Boomers again!) hold an unprecedented share of real estate wealth, roughly $13 trillion. And in markets like Montecito, that group owns a meaningful portion of the most desirable properties.
Why are they holding on? Because they want to. Because they can. The memories, parties, celebrations, family vacations and so many meaningful moments happen at home.
So the inventory question has a simple answer:
It’s hard to say goodbye!
What Happened in Montecito Last Week?
March 22nd – March 28th
weekly spotlight
La Macarena
Imagined as an Andalusian village by renowned architect Mary McLaughlin Craig, the property commands a premier location with ocean views near Montecito’s Upper Village. The estate has been thoughtfully restored, expanded and refined preserving its timeless whitewashed walls and authentic tile roofs, unfolding across brick courtyards, terraces and exquisitely landscaped grounds as a village-like compound that embraces the sweeping vistas and romance of Montecito.