Perspective Matters When Selling Your House Today

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key.

Fewer Homes for Sale than Pre-Pandemic

While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market.

Why does this matter to you? When inventory is low, there is still demand for your house because there just aren’t enough homes available for sale.

Homes Are Still Selling Faster Than More Normal Years

And while homes aren’t selling as quickly as they did a few months ago, the average number of days on the market is still well below pre-pandemic norms – in large part because inventory is so low.

Most recently, due to the cooldown in the housing market, the average days on the market have started to tick back up slightly but are still far below the pre-pandemic norm.

What does this mean for you? While it may not be as fast as it was a couple of months ago, homes are still selling much faster than they did in more normal, pre-pandemic years.

Buyer Demand Has Moderated and Is Now in Line with More Typical Years

Buyer demand has softened this year in response to rising mortgage rates. But again, perspective is key. Prior to the pandemic, it was typical for homes sold to see roughly 2-2.5 offers.

But most recently, the number of offers on homes sold today has started to return to pre-pandemic levels as the market cools from the frenzy.

What’s the takeaway for you? Buyer demand has moderated from the pandemic peak, but it hasn’t disappeared.

If you have questions about selling your house in today’s housing market, DM me.



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