Half the Homes, Double the Demand

Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how limited the housing inventory is today.

You may have heard that inventory is low, but let's delve into the specifics and why this is advantageous when selling your home.

Currently, the housing market is experiencing a shortage of available homes. Compared to last year, the supply is down by approximately 10%, and it was already considered low at that time. However, to truly grasp how unusual this inventory situation is, let's compare it to 2019, which was the last year characterized as a 'normal' market.

When you compare the same week this year to the corresponding week in 2019, you'll notice that the supply is about 50% lower. In other words, there are only half as many homes for sale now as there would typically be in a 'normal' year.

So, what does this mean for you as a seller? It means your house will stand out. There's a high demand for homes due to the scarcity of available properties. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains it best:

"There are simply not enough homes for sale. The market can easily absorb a doubling of inventory."

If you decide to list your house now, it will likely receive significant attention, potentially leading to multiple offers and a swift sale.

Bottom Line

With the housing inventory at approximately half of what it would be in a typical year, there's strong demand for homes. If you're considering selling, now is a great time to connect with us, so your home can shine in a market with such limited inventory.