The housing market is currently facing a challenge due to the lack of homes for sale in comparison to the number of buyers. The graph below illustrates this point. It uses historical data in order to give a concrete idea of how far the numbers still lag behind the levels of inventory that are typical of a normal market. (See graph below):It is worth noting, however, that 2020-2022 were not included in the graph. This is because those were years that were really abnormal for the housing market. These have been removed to make the comparison more fair. This is a good time to sell your home because the inventory is low. The housing market is impacted by the fact that buyers have fewer options than in previous years. Sellers will be pleased to see that the National Association of Realtors’ latest Confidence Index shows the following data: The percent of homes sold in less than one month increased slightly to 74%.
The median days on the market dropped to 18 days, indicating that homes still sell quickly when priced correctly.
The average number of recent sold homes received 3.3 offers.
Bottom LineWhen the supply is low, your home will be in the spotlight. This is why sellers are seeing a little more activity in their homes and getting more offers. Now is the time to sell if you’ve been thinking about it. Contact a trusted real-estate professional to start the process.

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