Housing Market Insights for Sellers
Considering whether it's the right time to sell your home? The brief answer is affirmative. Observing the present home inventory highlights two compelling reasons for this.
Data from Calculated Risk indicates a 15.6% increase in the number of homes on the market compared to this time last year, signaling an expansion in inventory. Yet, looking back to 2019, which represents the last standard year for the housing market, the inventory is almost 40% less now.
Here's how this situation can be advantageous for sellers:
1. Increased Choices for Your Next Move
Are you contemplating selling because your current home no longer fits your needs in terms of size or functionality? The growth in inventory year over year means you'll have a broader selection of homes to consider. This can make the search for your next home somewhat easier.
Therefore, if concerns about finding a suitable next home have been holding you back from selling, this positive shift in the market should be encouraging. Working with a real estate expert in your area can ensure you have the most current listings at your fingertips.
Go ahead and get your value now, and see what a full market value offer would be, where you can stay in your home for up to 90 days here.
2. Reduced Competition in Selling Your Home
It's important to contextualize the increase in available homes. Despite the uptick, the market is still significantly below the norm, with nearly 40% fewer homes compared to 2019, as noted by Calculated Risk. As highlighted by a recent Realtor.com article:
"While the inventory of homes for sale and the number of new listings are on the rise compared to last year, reaching pre-pandemic levels of inventory remains a distant goal."
For sellers, this implies that with the right pricing strategy, your home is likely to attract considerable interest from buyers and could sell quickly.
For homeowners pondering a sale, the timing remains favorable. The expanded selection for your next purchase and the limited competition make it an opportune moment to list your home. If you're prepared to take the next step, connecting with a real estate professional can kickstart the process. Go ahead and get your value now, and see what a full market value offer would be, where you can stay in your home for up to 90 days here. What have you got to lose?