A crucial determinant influencing the current real estate market is the quantity of homes available for sale. If you're contemplating listing your house, this presents a significant advantage, especially in a market with such low housing inventory. A well-priced house in such conditions is likely to stand out.
However, there are indications that more listings are emerging. Recent data suggests an upward trend in new listings—homes newly placed on the market for sale. This development is noteworthy, and understanding its implications could be beneficial for you.
More Homes Are Coming onto the Market than Usual
It's a widely acknowledged fact that the spring buying season is the peak period in the housing market each year. During the first half of the year, there is a predictable surge in the number of newly listed homes as sellers prepare for the months when buyers are most active. However, as the school year begins and the holiday season approaches, the market tends to cool down, following the expected seasonal pattern.
What's noteworthy is the recent data from Realtor.com, indicating an unusual increase in the number of sellers listing their houses later in the year than usual. This late peak in listings is atypical, as illustrated in the graph below, showcasing both the regular seasonal trend and the unusual surge in August.
As Realtor.com explains:
“While inventory continues to be in short supply, August witnessed an unusual uptick in newly listed homes compared to July, hopefully signaling a return in seller activity heading toward the fall season . . .”
While this is only one month of data, it’s unusual enough to note. It’s still too early to say for sure if this trend will continue, but it’s something you’ll want to stay ahead of if it does. What This Means for You If you've been delaying the sale of your house, the current moment might be the ideal time to take action. The reason is that if the current trend of increased listings persists, delaying your decision may lead to more competition. Waiting could mean having to compete for buyers' attention with neighbors who decide to sell. Selling now allows you to be ahead of your neighbors in attracting potential buyers.
Despite the rise in the number of homes entering the market, it's essential to note that the overall supply is still significantly below normal levels. The inventory deficit won't be resolved quickly. The graph below provides a visual representation of this situation, emphasizing the current opportunity available:
Even though inventory is still low, you don’t want to wait for more competition to pop up in your neighborhood. You still have an incredible opportunity if you sell your house today. Let’s connect to explore the benefits of selling now before more homes come to the market. 626-653-6903 | email@example.com | www.thechouteam.com
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