It’s not a big surprise that 70% of buyers put their home search on hold last year. You might have been one of them. And if so, don’t judge. Things were not going well.
There weren’t enough homes for sale, prices were too high, and mortgage rates were all over the place. It was hard to find a home you loved that you could also afford. Also, why sell if you don’t know where you want to go?
But there’s a catch: the market is changing. It might be time to play it again.
The Inventory Sweet Spot
More people who own their own homes are looking to move again this year. More homes are being finished by builders. Together, that gives you more choices when you move, maybe even the home you’ve been waiting for.
More homes = more possibilities.
But that’s not all of it. You don’t want to feel like you can’t find a new home after you sell your old one. Not too many homes for sale, either, or it will take a long time for your house to sell. You’ll get the best of both worlds right now.
These facts will help you see the bigger picture. Realtor.com says that inventory has grown by 28.5% since this time last year, but in most markets it’s still lower than it was before the pandemic.
When you move, there are more homes to choose from, but not so many that it will be hard to sell the one you’re in now. Make sure your home is priced correctly and ready to show off with the help of an agent. It should sell quickly.
More options. Less chaos. Solid demand: That’s the real sweet spot.
But here’s something else to think about. According to Realtor.com, the number of homes for sale has been going up for 17 months in a row. And most experts agree that it will probably keep going up all year. Lance Lambert, co-founder of ResiClub, says it this way:
It’s very likely that the number of active homes for sale across the country will be higher by the end of the year since inventory is going up year over year.
That being said, now might be the best time to sell. This could be the best time to sell your house because there are more homes for sale than at any other time of the year. If you wait too long, you might be one of many people trying to stand out this year.
Bottom Line
You should have seen this coming: the housing market just gave you a sign. This could be the best balance we’ve seen in a while for people who want to move up, down, or completely move.