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There's Only Half the Inventory of a Normal Housing Market Today in Salina KS

By
Real Estate Agent with eXp Realty LLC Salina Group BR00224198



Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.

You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house. This graph from Calculated Risk can help put that into perspective: 

As the graph shows, while housing inventory did grow slightly week-over-week (shown in the blue bar), overall supply is still low (shown in the red bars). Compared to the same week last year, supply is down roughly 10% – and it was already considered low at that time. But, if you look further back, you’ll see inventory is down even more significantly.

To gauge just how far off from normal today’s inventory is, let’s compare right now to 2019 (the last normal year in the market). When you compare the same week this year with the matching week in 2019, supply is about 50% lower. That means there are half the homes for sale now than there’d usually be.

The key takeaway? We’re still nowhere near what’s considered a balanced market. There’s plenty of demand for your house because there just aren’t enough homes to go around. 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.”

So, if you want to list your house, know that there’s only about half the inventory there’d usually be in a more normal year. That means your house will be in the spotlight if you sell now and you may see multiple offers and a fast home sale. 

Bottom Line

With the number of homes for sale roughly half of what there’d usually be in a more normal year, you can rest assured there’s demand for your house. If you want to sell, let’s connect now so your house can shine above the rest while inventory is so low.

Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Charles this seems to be the trend all around the country and you can thank the Fed for getting us to 7% Interest rates and 87% o home owners are under 5% when it comes to interest rates so there is no incentive to move, Endre

Aug 11, 2023 10:01 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Aug 12, 2023 01:42 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good mooring Charles. And to think at half the normal inventory you are ahead of many other markets. So many who would like to sell and move on are "interest rate" bound. Enjoy your day.

Aug 12, 2023 05:18 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Charles, good information for Salina, and probably for many other cities across the country.

Aug 12, 2023 08:37 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

At the very least the levels are rising to give byers hope of getting a home. Our area is still dangerously low to almost nothing to buy.

Aug 12, 2023 02:34 PM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Charles Ross - (785)-819-6944 our inventory here in CT is very low right now.  Half the normal inventory would be an improvement for us.

Aug 12, 2023 07:16 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

That sounds like a tough market to work in Charles Ross - (785)-819-6944 . Hopefully the shortage will loosen up a bit so more families can afford to purchase. 

Aug 17, 2023 06:58 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post! Thanks for sharing and enjoy your day!

Aug 23, 2023 07:44 AM