There's no denying that the housing market is changing this season, as buyer demand slows and the number of available homes increases. However, this shift provides you with some distinct advantages when selling. Here are some of the key opportunities available to you if you list your home this fall.

Opportunity #1: You Have More Options for Your Move

One of the most important stories today is the increasing supply of available homes for sale. Since the beginning of the year, housing inventory has been increasing, owing primarily to higher mortgage rates, which have helped to temper the peak frenzy of buyer demand. What you may not realize is that this could actually benefit you.

Selling your home to relocate means you'll have more options for your own home search. This increases your chances of finding a home that ticks all of your boxes. So, if you've been putting off selling because you were concerned about finding a place to live, know that your options have improved.

Opportunity #2: The Number of Homes on the Market Is Still Low

Just remember, while data shows the number of homes for sale has increased this year, housing supply is still firmly in sellers’ market territory. A six-month supply of homes is required to be in a balanced market where there are enough homes available to meet the pace of buyer demand. According to the most recent National Association of Realtors (NAR) report, there was only a 3.3-month supply in July.

While you will have more options for your own home search, inventory remains low, which means your home will remain in demand if you price it correctly. As a result, according to the most recent NAR data, the average home sold in July received multiple offers and sold in as little as 14 days.

Opportunity #3: Your Equity Has Grown by Record Amounts

The home price appreciation the market saw over the past few years has likely given your equity (and your net worth) a considerable boost. Danielle Hale, Chief Economist at realtor.com, explains:

“Home owners trying to decide if now is the time to list their home for sale are still in a good position in many markets across the country as a decade of rising home prices gives them a substantial equity cushion . . .”

If you've been putting off selling because you're concerned about how rising prices will affect your next home search, know that your equity can assist. It could be just what you need to cover a large portion (if not all) of your next home's down payment.

Bottom Line

If you’re thinking about selling your house this season, let’s connect so you have the expert insights you need to make the best possible move today.