Considering selling your real estate property? The answer is a resounding yes, especially when you take into account the current scarcity of homes available on the market. While you might have heard that inventory is currently limited, you might not fully grasp the extent of this scarcity or its advantages when it comes to selling your property. A visual representation provided by Calculated Risk helps to clarify this:

As depicted in the graph, there has been a slight increase in housing inventory on a monthly basis, but the overall supply remains notably constrained (indicated by the years 2022 and 2021). However, delving further into historical data reveals an even more significant decline in inventory.

The crucial insight? We are far from achieving what is deemed a balanced real estate market. The demand for your property remains robust due to the scarcity of available homes. Lawrence Yun, the Chief Economist at the National Association of Realtors (NAR), explains:

“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”

If you are contemplating listing your property, it's important to recognize that the current inventory is approximately half of what would be expected in a more typical year. This unique situation means that your property will attract considerable attention if you decide to sell now, potentially resulting in multiple offers and a swift sale.

In summary, with the number of homes on the market hovering around half of the usual quantity for a standard year, you can be confident that there is substantial demand for your property. If you are interested in selling, I encourage you to reach out so we can leverage this period of low inventory to ensure your property stands out among the rest. Connect with us now to make the most of this opportunity.