Are you considering selling your house and wondering if now is a good time? The quick response is affirmative. By examining the present inventory of homes on the market, you’ll find two compelling reasons for this.
According to a report by Calculated Risk, the current number of homes for sale has increased by 15.6% compared to the same period last year, indicating that inventory has expanded. However, when comparing to 2019, which was the last typical year for the housing market, there are almost 40% fewer homes available now:
1. Increased Choices for Your Next Home
Considering selling because your current home no longer fits your needs, whether it’s too large, too small, or just not right anymore? The growth in listings year-over-year means you’ll have more options in your search for a new home, potentially making it easier to find exactly what you need.
If concerns about finding a suitable next home have been holding you back from selling, this positive development might be the encouragement you need. Working with a local real estate expert can ensure you have the most current information on available properties in your area.
2. Limited Competition Remains When Selling Your Home
However, to give some context, even with an increase in homes on the market, the numbers are still not as high as they would be in a typical year. Recall that, according to Calculated Risk, the inventory is almost 40% lower than in 2019. And this significant shortfall won’t be corrected quickly. As pointed out in a recent Realtor.com article:
“…the inventory of homes for sale and the number of new listings are improving compared to last year. Nevertheless, the supply of available homes still has a considerable distance to go before reaching pre-pandemic levels.”
For you as a seller, this means that if you list your home at the right price with the help of a real estate agent, your property is likely to attract considerable interest from buyers and could sell quickly.
Bottom Line
If you’re thinking of selling your home, this is a great moment. You’ll enjoy a wider selection for your next purchase, and the competition from other sellers is still relatively low. If you’re prepared to make a move, let’s get in touch and start the process.
