Why Today’s Housing Supply Is a Sweet Spot for Sellers

<article class="post-952484 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-952484"><span class="entry-date">February 27, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">Why Today’s Housing Supply Is a Sweet Spot for Sellers</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Why+Today%E2%80%99s+Housing+Supply+Is+a+Sweet+Spot+for+Sellers&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fwhy-todays-housing-supply-is-a-sweet-spot-for-sellers%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="Why Today’s Housing Supply Is a Sweet Spot for Sellers Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20240227-Why-Today-s-Housing-Supply-Is-a-Sweet-Spot-for-Sellers.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
<p>Wondering if it still makes sense to <a href="https://www.simplifyingthemarket.com/2024/02/01/dont-wait-until-spring-to-sell-your-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">sell your house </a>right now? The short answer is, yes. And if you look at the current number of homes for sale, you’ll see two reasons why.</p>
<p>An article from <a href="https://www.calculatedriskblog.com/2024/02/housing-february-26th-weekly-update.html" rel="noopener noreferrer" target="_blank"><em>Calculated Risk</em></a> <span style="color: black;">shows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown. But going back to 2019, the last normal year in the housing market, there are nearly 40% fewer homes available now:</span></p>
<p><a href="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240226/20240227-Inventory-is-rising-but-its-still-low.png" rel="noopener noreferrer" target="_blank"><img alt="a graph with red and blue squares" decoding="async" src="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240226/20240227-Inventory-is-rising-but-its-still-low.png"/></a></p>
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<p><strong>Here’s a breakdown of how this benefits you when you sell. </strong></p>
<h4><strong>1. You Have More Options for Your Move</strong></h4>
<p>Are you thinking about <a href="https://www.simplifyingthemarket.com/2024/01/22/3-must-dos-when-selling-your-house-in-2024/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">selling</a> because your current house is too big, too small, or because your needs have changed? If so, the year-over-year growth gives you more options for your home search. That means it may be less of a challenge to find what you’re looking for.</p>
<p>So, if you were holding off on selling because you were worried you weren’t going to <a href="https://www.simplifyingthemarket.com/2023/12/05/when-you-sell-your-house-where-do-you-plan-to-go/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">find a home</a> you like, this may be just the good news you needed. Partnering with a local real estate <a href="https://www.simplifyingthemarket.com/2023/10/30/a-real-estate-agent-helps-take-the-fear-out-of-the-market/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">professional</a> can help you make sure you’re up to date on the <a href="https://www.simplifyingthemarket.com/2024/01/16/why-you-may-want-to-seriously-consider-a-newly-built-home/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">homes available</a> in your area. </p>
<h4><strong>2. You Still Won’t Have Much Competition When You Sell</strong></h4>
<p>But to put that into perspective, even though there are more homes for sale <a href="https://www.simplifyingthemarket.com/2023/12/13/the-surprising-trend-in-the-number-of-homes-coming-onto-the-market/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">now</a>, there still aren’t as many as there’d be in a normal year. Remember, the <a href="https://www.calculatedriskblog.com/2024/02/housing-february-26th-weekly-update.html" rel="noopener noreferrer" target="_blank">data</a> from <em>Calculated Risk</em> shows we’re down nearly 40% compared to 2019. And that large a deficit won’t be solved overnight. As a recent article from <em>Realtor.com</em> <a href="https://www.realtor.com/research/january-2024-data/" rel="noopener noreferrer" target="_blank">explains</a>:</p>
<blockquote><p><em>“. . . the number of homes for sale and new listing activity continues to improve compared to last year. </em><strong><em>However the inventory of homes for sale still has a long journey back to pre-pandemic levels.”</em></strong></p></blockquote>
<p>For you, that means if you work with an agent to price your house right, it should still get a lot of attention from <a href="https://www.simplifyingthemarket.com/2023/12/18/why-now-is-still-a-great-time-to-sell-your-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">eager buyers</a> and could <a href="https://www.simplifyingthemarket.com/2024/02/06/houses-are-still-selling-fast/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">sell fast</a>.</p>
<h3>Bottom Line</h3>
<p>If you’re a homeowner looking to sell, now’s a good time. You’ll have more options when buying your next home, and there’s still not a ton of competition from other sellers. If you’re ready to move, talk to a local real estate agent to get the ball rolling.</p>
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