Today’s Housing Inventory Is a Sweet Spot for Sellers

 

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.

According to a recent report from Realtor.com, “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from NAR:
 
The percent of homes that sold in less than a month ticked up slightly to 74%. 

The median days on market went down to 18 days, showing homes are still selling fast when priced right. 

The average number of offers on recently sold homes went up to 3.3 offers.

When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. DM me to get the process started.

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