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Why Today鈥檚 Housing Supply Is a Sweet Spot for Sellers

(Published on - 3/2/2024 6:58:07 PM)

Wondering if it still makes sense to right now? The short answer is, yes. And if you look at the current number of homes for sale, you’ll see two reasons why.

An article from  shows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown. But going back to 2019, the last normal year in the housing market, there are nearly 40% fewer homes available now:

a graph with red and blue squares

Here’s a breakdown of how this benefits you when you sell.

 

1. You Have More Options for Your Move

Are you thinking about  because your current house is too big, too small, or because your needs have changed? If so, the year-over-year growth gives you more options for your home search. That means it may be less of a challenge to find what you’re looking for.

So, if you were holding off on selling because you were worried you weren’t going to  you like, this may be just the good news you needed. Partnering with a local real estate  can help you make sure you’re up to date on the  in your area.

2. You Still Won’t Have Much Competition When You Sell

But to put that into perspective, even though there are more homes for sale , there still aren’t as many as there’d be in a normal year. Remember, the  from Calculated Risk shows we’re down nearly 40% compared to 2019. And that large a deficit won’t be solved overnight. As a recent article from 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.”

For you, that means if you work with an agent to price your house right, it should still get a lot of attention from  and could .

Bottom Line

If you're a homeowner looking to sell, now's a good time. You'll have more options when buying your next home, and there's still not a ton of competition from other sellers. If you’re ready to move, talk to a local real estate agent to get the ball rolling.

Source: 

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