Local real estate agents are hungry.

Lexington County home owners are hanging onto their homes longer.

This gives them fewer homes they can sell.

“I hear complaints that there is insufficient resale inventory in the Lexington market,” said Andy White of Saluda River Club, a large home development near River Bluff High School.

“I can confirm that we are selling everything we can build, but I don’t think we have much in common with most of the Lexington market due to our price level.”

Across the country, homeowners are living in their homes much longer, which helps explain why home sales are sputtering.

Homeowners are remaining in their homes typically 13 years, 5 years longer than they did 10 years ago.

Alonzo Cox of Ronnie Wingard Real Estate in Lexington said the number of listings on the Multiple Listing Service has been down for over a year now.

“Homes are selling quicker because buyers can’t find anything to buy,” he said.

“Supply and demand are driving prices steadily up, at a slow pace, but still up.”

New Lexington, Richland and Kershaw county home sales this year are up 7.3%.

The average price rose by 2.6% to $253,382.

8,331 resale homes were sold in the 3 counties this year, only 2 more than at this time last year.

The average resale price increased 5.6% by $10,106 to $202,716.

Trent Thompson of South State Bank said despite a lack of housing available, sales aren’t “sluggish.”

Some activity came from the unexpected drop in interest rates again this year.

“That spurred more refinances than we expected,” he said. “As with most financial ups and downs, the Midlands seem to experience fewer highs and lows than many larger markets.”

According to the Multiple Listing Service the demand for single family, patio, town homes and condos is up 4.18% over last year.

Demand for homes above $300,000 is up by 19.8%.

Demand below $300,000 is up by just 0.29%.

This indicates the demand for homes over $300,000 is surging, while the lower end of the market is flat.