Why Sellers Are Benefiting from the Current Housing Supply Situation
Considering whether it’s a good time to sell your house? The quick answer is, indeed. Examining the current inventory of homes for sale reveals two compelling reasons.
As per an article from Calculated Risks, the current count of homes for sale is 15.6% higher than the same week last year, indicating a growth in inventory. However, when compared to 2019, the last pre-pandemic year in the housing market, the available home have decreased by nearly 40%.
Here’s why selling your home now is advantageous for you, especially if you’re a first-time home seller.
Expanded Options for Your Next Move:
If you’re contemplating selling because your current home no longer fits your needs, whether it’s too large, too small, or your requirements have changed, the significant year-over-year increase in available homes provides you with more choices during your home search.
This implies that finding a home that suits your preferences might be less challenging now.
If concerns about finding the right home were holding you back from selling, this positive trend in inventory could be the encouraging news you were waiting for. Connecting with a local real estate professional will keep you well-informed about the homes currently on the market.
Limited Competition for Sellers:
Despite the rise in the number of homes for sale, it’s crucial to understand that we are still far below the inventory levels of a typical year, as indicated by the data from Calculated Risk, which shows a nearly 40% decrease compared to 2019.
While improvements are happening in terms of new listings and homes for sale compared to last year, the inventory is on a slow journey back to pre-pandemic levels, according to Realtor.com.
The good news for sellers. With the right pricing strategy guided by a real estate agent, your property can attract substantial attention from motivated buyers, potentially leading to a swift sale.
In Conclusion: If you are a homeowner contemplating a sale, the current market conditions make it a favorable time. You’ll have a wider array of choices when purchasing your next home, and the lever of competition from other sellers is still relatively low. To initiate the process, consider reaching out to a local real estate agent who can provide guidance tailored to your specific situation.