Number of Homes for Sale UP from Last Year, but Below Pre-Pandemic Years
The biggest challenge in the housing market right now is how few homes there are for sale compared to the number of people who want to buy. That’s why, if you are thinking about selling your house, this is a great time to do so. Your house would be welcomed in a market that has fewer homes for sale than it did in the years leading up to the pandemic.
The graph below shows how today’s inventory of homes for sale compares to recent years.
What Does This Mean for YOU?
Fewer homes for sale means buyers have fewer choices than they did prior to the pandemic. This is leading some to give up on the homebuying process altogether. But with mortgage rates sitting lower than they were at the peak last fall, more buyers are willing to come back into the process. They just need to find homes to buy. This is good news if you are thinking of selling yours house this spring.
With a renewed interest in buying a home for many, the New York Times reports “Home buyers are edging back into the market after being sidelined last year….”
Bottom Line
The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, now is the time for us to connect and get ready for you to make a move this spring.
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