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Why the Current Housing Market is Favorable for Sellers

If you're contemplating whether to sell your home in today's market, the answer is a resounding yes. And examining the current inventory of homes for sale reveals two compelling reasons why.

Recent data from Calculated Risk indicates a 15.6% increase in homes for sale compared to the same period last year, signaling a growth in inventory. However, when we compare this to 2019, the last pre-pandemic year in the housing market, there's a significant contrast with nearly 40% fewer homes available now. This shift in inventory offers distinct advantages for sellers:

1. Expanded Choices for Your Next Move

Are you considering selling your current home due to size constraints, changing needs, or simply seeking a different living environment? The year-over-year increase in inventory translates to more options for your next home. Consequently, finding a property that meets your criteria might be less challenging than anticipated.

If concerns about finding a suitable home have been holding you back from selling, this uptick in inventory could be the encouraging news you've been waiting for. Collaborating with a local real estate expert ensures you stay informed about available properties in your desired area.

2. Limited Competition in the Market

Despite the uptick in available homes, it's essential to recognize that inventory levels are still significantly lower compared to a standard year like 2019. As highlighted by a recent article, the housing market is steadily improving in terms of the number of homes for sale and new listings. However, it's evident that inventory levels have yet to return to pre-pandemic norms.

For sellers, this means that with proper pricing strategies guided by a knowledgeable agent, your home is likely to attract considerable attention from eager buyers and could potentially sell quickly.

If you're a homeowner contemplating a sale, now presents an opportune moment. With an expanded range of options for your next home and relatively low competition from other sellers, the current market conditions are in your favor. To initiate the selling process, reaching out to a local real estate agent is a prudent step forward.


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