COVID-19 & Real Estate: The Great Appliance Shortage

There is no question that the COVID-19 pandemic has impacted virtually every phase of life. Unless you have recently embarked on a house renovation or tried to upgrade your home appliances, you probably did not realize that there is a significant appliance shortage. Whether it is a freezer, a washer/dryer, or a dishwasher, chances are that these items may be on back order.

Why is there a shortage of appliances?

There are several reasons for the severe appliance shortage. For starters, many factories scaled back their production of various appliances when the pandemic began. This was done in part because of the perceived lower demand due to the increase in unemployment and other challenges on the economy. In addition, scaling back manufacturing would also increase employee safety from potential spread of the virus. Another factor that contributed to the shortage was the mere fact that many Americans were hoarding food, thus purchasing additional refrigerators and freezers. We can all remember earlier this year when purchase limits had to be placed on various food items. With more and more people sheltering in place, people have been cooking at home and utilizing their appliances much more. This has caused more wear and tear on appliances which has led to more repairs or replacements. Lastly, a booming housing market has resulted in more homeowners and subsequent appliance purchases.

How long will this continue?

Appliance manufacturers warn that there will likely continue to be shortages for the remainder of this year and quite possibly into 2021. Given the strong demand for housing, it is safe to assume that this will continue to put further strain on the current appliance demand. In closing, if you are planning a home renovation, be sure to allow the proper amount of time for your household appliances. If possible, you may want to order your appliances prior to beginning your renovations.


REALTOR® with Live South Florida Realty, Inc.