All Set To Sell? You have two options with the housing supply we have today.

At first glance, the fact that there are more homes for sale now than there were last year might not seem like good news for people who want to sell, but it actually gives you two important opportunities in the current housing market.

An article from Calculated Risk compares the rise in inventory on the market in 2022 to what has happened in the past (see graph below). It shows that supply is 58% higher than it was in 2021. But the bigger picture becomes clearer the further back you look. And if you go all the way back to 2019, which was the last “normal” year for real estate, we have about 35% less homes than we did then.

Opportunity #1: Take Advantage of More Options for Your Move

If your present home no longer fits your requirements or lacks the space and features you need, this increase in inventory provides you with additional opportunities to sell and purchase the home of your dreams. When searching for a new home, you will have more options if there are more homes for sale.

Working with a local real estate agent will help you stay abreast of the houses now available in your neighborhood. And when you do, a professional may advise you on how to compose a competitive offer.

Opportunity #2: Sell While Inventory Is Still Low Overall

But again, even though the economy is growing, inventory is still low compared to normal years, and that won’t change overnight. For you, this means that if you price your house right, people should still want to buy it.

Bottom Line

If you own a home and want to sell it, you have more homes to choose from and can still sell yours even though the overall number of homes for sale is low. If you’re ready to start, talk to a real estate agent in your area. They can help you get the best of both worlds.