Housing Inventory is Low: How Do Sellers Win?

The amount of properties for sale in today’s housing market is far less than the high buyer demand. As a result, ready-to-sell homeowners have a major edge. Here are three reasons that today’s low inventory will help you sell your home this season.

Higher Prices

Homebuyers are regularly involved in bidding wars for the properties they wish to buy since there are so many more buyers in the market than homes available for sale. In today’s market, properties are receiving an average of 3.7 offers, according to the latest data from the National Association of Realtors (NAR). Home prices rise as a result of buyer rivalry. Since a seller, this is unquestionably advantageous, as it may result in you receiving a higher price for your home at closing.

Increased Return on Investment

Property values are increasing as a result of rising prices, which means you have more equity in your home. CoreLogic reveals in its newest Homeowner Equity Insights Report:

“In the second quarter of 2021, the average homeowner gained approximately $51,500 in equity during the past year.”

This year-over-year increase in equity provides you the option of selling your property and putting the proceeds toward a down payment on your future home or conserving it for a rainy day.

Better Terms

If you make a move in a sellers’ market like the one we have now, you’re in control. You have the authority to sell on your own terms, and buyers will be more willing to work with you if it means getting their ideal house.

Is a lack of housing inventory a major concern?

Yes, particularly if you want to sell your home on your own terms. Moving now, when inventory is at an all-time low, is critical to maximizing your opportunities.

Bottom Line

If you want to take advantage of the present sellers’ market, talk to our agents today to see what your options are.