Why Are So Many Houses Sitting Empty in Our Area?

We’ve been potential buyers for a while now, taking our time to see what the market has to offer. We’ve noticed a trend where many houses in our area are sitting empty, despite some minor upgrades from the 90s. It seems like most of these homes are not being lived in and have been on the market for months. We wonder if they are all owned by corporations, as the prices have been too high for us to consider making an offer. Even though we could afford it, the value just doesn’t seem to match what they are asking for. It’s surprising to see so many houses languishing on the market for over 120 days without significant price reductions. Some sellers are playing the delist-relist game to reset the listing, but we’ve been observing the market for years and know how long these properties have truly been available. This situation is a stark contrast to our previous house hunt in 2012, where most homes had people actively living in them. It makes us wonder if others are experiencing a similar situation in their housing market.