Capitalize on Today's Limited Housing Inventory

Wondering if now is the right time to sell your house? The answer remains a resounding yes! Especially when you consider the current scarcity of available homes for sale.

Current Scarcity

While you may have heard about the low inventory situation, the true extent and benefits for potential sellers might not be fully apparent. Referencing an illustrative graph from Calculated Risk can provide clarity:

Observing the graph, you'll note a slight week-over-week growth in housing inventory (indicated by the blue bars). However, the broader view reveals a persistently limited supply (the fiery red bars). Compared to the same period last year, there's been a notable 10% decline in supply – and remember, it wasn't exactly abundant even then. Expanding our scope further back emphasizes an even more pronounced decrease in available homes.

Let's turn back the clock to 2019, often considered a benchmark for a balanced housing market. Comparing this year's available homes with the equivalent week in 2019 reveals a striking difference. We're talking about a significant 50% drop in supply. Essentially, there are only half as many homes available compared to a typical scenario.

The main takeaway is clear: the market is far from achieving equilibrium. Demand for houses remains robust, yet the available supply falls significantly short. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”

Hidden Potential

If you're contemplating listing your house, here's the exciting part: you're stepping into the spotlight with only about half the usual homes to compete against. This is your time to shine, potentially leading to multiple offers and a swift sale.

With available homes hovering at around half of what's considered normal, the demand for your property is practically assured. Ready to take the next step? Establish a connection with a local real estate agent without delay. Your house is poised to take center stage in this low inventory scenario – seize the opportunity to its fullest!