If you're considering putting your house on the market, you might be wondering if now is the right time. Well, let's take a look at the current housing market trends and see what they suggest.
According to recent data from Calculated Risk, there has been a 15.6% increase in the number of homes for sale compared to the same period last year. This indicates that there is indeed more inventory available for potential sellers.
However, if we look further back to 2019, which was considered a normal year in the housing market, there's an interesting contrast. Compared to 2019, there are nearly 40% fewer homes available for sale now.
This data might seem conflicting at first glance, but it actually paints a promising picture for anyone considering selling their home. Let's break down why this might be the case.
More Options for Your Move: If you've been thinking of selling your house because it no longer suits your needs or lifestyle, the increase in inventory could work in your favor. With more homes on the market, you'll have a wider selection to choose from when searching for your next place. Whether you need more space, less space, or simply a change of scenery, the expanded inventory means you're more likely to find a property that meets your criteria.
Limited Competition: Despite the rise in the number of homes for sale, it's crucial to remember that inventory levels are still significantly lower than they were in 2019. This means that while there may be more options available to buyers, there's still relatively little competition for sellers. In other words, your home is less likely to get lost in a sea of listings, increasing the chances of attracting serious buyers.
To put it into perspective, consider this excerpt from a recent article on Realtor.com: "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." While the market is moving in the right direction, it's clear that we're still a ways off from returning to pre-pandemic inventory levels. This means that sellers who list their homes now can still benefit from the lack of available properties.
If you're a homeowner weighing the decision to sell, the current market conditions suggest that now could be a good time to make your move. With a greater selection of homes to choose from and limited competition from other sellers, you're poised to maximize your chances of a successful sale.
Of course, every market is unique, so it's always a good idea to consult with a local real estate professional who can provide personalized advice based on your specific circumstances.
In summary, there are more homes on the market now, which gives you more choices for your move. Despite the increase, the number of homes available is still lower than before the pandemic. This means less competition for sellers. So, if you're ready to sell, now's a good time. Talk to a local real estate agent to get started.
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