For those thinking about listing their homes, now is a good time. The current low inventory favors sellers, giving them a better chance of standing out in the market, especially if their houses are priced right. But, there are indications that more homes are coming onto the market, which is good news for buyers and sellers alike. This article looks at the data pointing to an upward trend in listings and what it could mean for potential sellers.
Traditionally, spring is the busiest time for the housing market due to the warmer weather and an increase in buyer activity. However, this year’s data from Realtor.com shows that the number of newly listed homes has increased later in the year than usual. Typically, during the school year and the holidays, the market cools down, and fewer homes are put up for sale. Therefore, the increase in listings at this time is a positive sign for the real estate market.
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 . . .”
Another factor contributing to the increase in listings could be historically low-interest rates. With rates at the lowest they have been in years, more potential buyers are looking to buy homes, creating a demand that sellers are stepping up to meet. Also, with the COVID-19 pandemic still in effect, more people are working from home, making them more inclined to look for more space, leading to property sales.
Additionally, some sellers are finally listing their properties as life returns to some semblance of normalcy. After the pandemic lockdown in 2020, many people delayed selling, leading to a lower-than-usual inventory throughout the summer of 2021. However, as things change, more people are feeling comfortable putting their homes for sale, leading to an increased inventory in the coming months. The graph below helps put this into context, so you can see the opportunity you still have now.
Furthermore, the increase in newly listed homes could benefit buyers since the supply has been very low historically due to factors such as the pandemic and natural disasters. With more homes to choose from, buyers will have a better chance of finding the home that matches their wish list. This could mean that the bidding wars experienced in the past are reduced because buyers will have more options in their price and location range.
To sum up, a higher number of newly listed homes is good news all around for buyers and sellers. If you are considering putting your home up for sale, now is an excellent time to do so. With low inventory levels, your house will stand out, and you will have more potential buyers. Additionally, buyers now have the potential of more homes to choose from as the inventory increases. Keep in mind that, as with any market, it is susceptible to fluctuations, so stay informed about the latest trends and act accordingly. Get in touch with a real estate agent who can help you make informed decisions to help you achieve your home selling goals.
