Sellers have a great opportunity this season as buyer demand still heavily outweighs the current supply of homes for sale. According to the National Association of Realtors (NAR), todayâ€™s housing inventory sits at only a 2.6-month supply. To put that into perspective, a neutral market typically features a 6-month supply. That places todayâ€™s market firmly in the sellersâ€™ market category.
That same NAR data also shows todayâ€™s inventory of single-family homes is trailing behind the level we saw last year (see graph below):Because of the ongoing supply challenges, buyers can feel like theyâ€™re wandering across a vast, empty desert when searching for their next home. That means your house could provide an oasis for buyers thirsty for options â€“ and it could increase the chances of buyers entering a bidding war for your home.
The latest Realtors Confidence Index Survey from NAR shows houses are receiving an average of 3.8 offers. A multiple-offer scenario lets you select the best offer and gives you incredible leverage when you sell this fall.
Buyers today are looking for relief as they wander todayâ€™s inventory desert. Listing your house this fall â€“ before more options appear â€“ gives your house the best chance to be noticed by multiple buyers. Letâ€™s connect today so your house can stand out as the oasis it truly is.