There’s one thing that might hold the housing market back from achieving its full potential this year: the lack of homes for sale!
Buyers are actively searching for and purchasing homes, looking to capitalize on today’s historically low-interest rates, but there is not enough inventory for sale to meet that growing need.
Homes are selling faster, and sales are still on an upward trend, but rapidly disappearing inventory also means more home shoppers are priced out. If we don’t see a material improvement to supply in the next few weeks, we could see the number of transactions begin to dwindle again even as the the lineup of buyers continues to grow.
Does this mean it’s a good time to sell? Yes. If you’re thinking about selling your house, this fall is a great time to make it happen. There are plenty of buyers looking for homes to purchase because they want to take advantage of low-interest rates.
Realtors are also reporting an average of 3 offers per house and an increase in bidding wars, meaning the demand is there, and the opportunity to sell for the most favorable terms is in your favor as a seller
If you’re considering selling your house, this is the perfect time to connect so we can talk about how you can benefit from the market trends in our local area.