Why the Present Housing Supply Favors Sellers

Curious about the viability of selling your home at this moment? The concise response is affirmative. A glance at the present volume of homes listed for sale unveils two compelling reasons.

According to an article from Calculated Risk, there is a 15.6% increase in homes for sale compared to the corresponding week last year, indicating a rise in inventory. However, when we contrast this with 2019, recognized as the last typical year in the housing market, the current availability of homes is nearly 40% lower.

Here’s why selling now can work in your favor:

1. More Choices for Your Next Home: If you've been holding off on selling because you couldn't find the right place to move, things are looking up. With more homes available compared to last year, you have a better chance of finding a home that fits your needs. So, if you were worried about not finding a new home you like, this news could be a relief. Connecting with a local real estate agent can keep you updated on available homes in your area.

2. Less Competition When Selling: While there are more homes on the market now, it's still not as crowded as it used to be. Compared to 2019, there are still nearly 40% fewer homes for sale. It'll take time to get back to normal levels. So, if you price your house right with the help of an agent, it could attract a lot of interested buyers and sell quickly.

In a nutshell, if you're thinking of selling, now's a good time. You'll have more options for your next home, and you won't face as much competition from other sellers. Ready to make a move? Reach out to a local real estate agent to get started.