There is only half the inventory of a normal housing market today

Do you wonder if it makes sense to sell a house now? The short answer is yes. You may have heard that inventory is low, but you might not realize how low it is or why this can be a benefit when you’re trying to sell your home. This graph by Calculated Risk helps put things into perspective. While housing inventory grew slightly week-overweek (shown as the blue bar), the overall supply remains low (shown as the red bars). Supply is down about 10% from the same week last season, and that was already low. Compare today’s inventory to that of 2019 (the last year when the market was normal) to see how far away it is from normal. If you compare the same weeks this year to the matching weeks in 2019, the supply is about half lower. This means that there are now half as many homes for sale than there would normally be. What’s the key takeaway? We’re nowhere near a market that’s balanced. There is a lot of demand for your home because there aren’t enough houses to go around. Lawrence Yun, Chief economist at the National Association of Realtors explains that there are not enough homes available for sale. The market is able to absorb a doubled inventory. If you sell your home now, you could see multiple offers or a quick sale. Bottom LineWith the number homes for sale being about half of what it would be in a normal year, there is demand for your home. Connect with a local agent to help you sell your home while the inventory is low.

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