Admin

The Housing Market: Why Now is a Great Time to Sell Your House

By
Real Estate Agent with RE/MAX Associates RS - 0019092

Right now, there's a big problem in the housing market. There aren't enough homes for sale compared to the number of people who want to buy them. This means that there's a limited supply of houses available.

 

Tip to Maintain Stock Levels: Leverage Reorder Points | Finale Inventory

 

A recent report from Realtor.com shows just how limited the housing inventory is. In June, the number of active listings was 50% lower than the levels seen before the pandemic in 2017-2019.

Take a look at the graph below. It shows historical data and compares it to the inventory levels of a more normal market. You'll see that the numbers are still far below what they should be.

 

undefined

 

It's important to note that the years 2020-2022 are not included in the graph. These years were abnormal for the housing market due to the pandemic. To make a fair comparison, they have been left out.

When you compare the orange bars representing 2023 with the blue bars representing 2017-2019, you can see that the number of active listings is still much lower than it should be.

 

Thinking about Selling a House Stock Vector - Illustration of sale ...

 

If you're thinking about selling your house, now is a great time to do so. The low inventory means that buyers have fewer choices, which can work in your favor as a seller. Here are some key statistics from the latest Confidence Index from the National Association of Realtors (NAR) that show the impact of low inventory:

  • The percent of homes that sold in less than a month increased to 74%.
  • The median days on market decreased to 18 days, showing that homes are selling quickly when priced right.
  • The average number of offers on recently sold homes increased to 3.3 offers.

 

CLICK HERE FOR FREE E-BOOK

 

 

by KCM.com

 

 


Posted by

 

John Pusa
Glendale, CA

Hello Christopher Pataki very good helpful report for why now is a great time to sell a house.

Jul 06, 2023 03:27 PM
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Thanks for the post Chris!  Your graft was very informative.

Jul 06, 2023 04:14 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

We're at 68% of 2019 levels and the last few months have seen increases. Maybe we'll get closer!

Jul 07, 2023 05:05 AM