Why Today’s Housing Supply Is a Sweet Spot for Sellers

Why Today’s Housing Supply Is a Sweet Spot for Sellers

Wondering if it still makes sense tosell your houseright now? The short answer is, yes. And if you look at the current number of homes for sale, you’ll see two reasons why.

An article fromCalculated Riskshows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown. But going back to 2019, the last normal year in the housing market, there are nearly 40% fewer homes available now:

Here’s a breakdown of how this benefits you when you sell.

1. You Have More Options for Your Move

Are you thinking aboutsellingbecause your current house is too big, too small, or because your needs have changed? If so, the year-over-year growth gives you more options for your home search. That means it may be less of a challenge to find what you’re looking for.

So, if you were holding off on selling because you were worried you weren’t going tofind a homeyou like, this may be just the good news you needed. Partnering with a local real estateprofessionalcan help you make sure you’re up to date on thehomes availablein your area.

2. You Still Won’t Have Much Competition When You Sell

But to put that into perspective, even though there are more homes for salenow, there still aren’t as many as there’d be in a normal year. Remember, thedatafromCalculated Riskshows we’re down nearly 40% compared to 2019. And that large a deficit won't be solved overnight. As a recent article fromRealtor.comexplains:

“. . . the number of homes for sale and new listing activity continues to improve compared to last year.However the inventory of homes for sale still has a long journey back to pre-pandemic levels.”

For you, that means if you work with an agent to price your house right, it should still get a lot of attention fromeager buyersand couldsell fast.

Bottom Line

If you're a homeowner looking to sell, now's a good time. You'll have more options when buying your next home, and there's still not a ton of competition from other sellers. If you’re ready to move, let’s connect to get the ball rolling.

2-28-2024