Ready To Sell? Today’s Housing Supply Gives You Two Opportunities
An article from Calculated Risk helps put the inventory gains the market has seen in 2022 into perspective by comparing them to recent years (see graph below). The data shows that the current supply is 58% higher than what was seen in 2021. But, if you look back even further, you'll start to get a sense of the bigger picture. And if you go all the way back to 2019, the last normal year in real estate, we’re roughly 35% below the housing supply we had at that time.
Opportunity #1: Take Advantage of More Options for Your Move
If your current house no longer meets your needs or lacks the space and features you want, this inventory growth gives you even more opportunity to sell and move into the home of your dreams. With more houses on the market, you’ll have more to choose from when you search for your next home.
By partnering with a local real estate professional, you gain access to exclusive knowledge about homes available in your area. Professional Real Estate Agents help you put together a competitive offer when you've found the right home.
Opportunity #2: Sell While Inventory Is Still Low Overall
Although the market is rapidly growing, inventory levels are still low compared to what they normally are; this won't change overnight. In other words, if you price your house correctly, it will still be appealing to potential buyers.
As an article from realtor.com says:
“Today’s shoppers generally have more homes to consider than last year’s shoppers did, but the market is still not back to pre-pandemic inventory levels.”