Capitalizing on Today’s Housing Inventory

Unleashing Opportunities in a Low Housing Inventory Market

In the dynamic realm of real estate, a major challenge confronts both buyers and sellers alike: the scarcity of available homes. The demand for housing far exceeds the supply, creating a unique market landscape. Let’s delve into the latest insights on active listings and explore how this shortage compares to more typical conditions.

According to a recent Realtor.com report, average active inventory in June remained a staggering 50.6% below pre-pandemic levels from 2017 to 2019. This statistic emphasizes the ongoing deficit in housing inventory, even when compared to what was considered a “normal” market.

Visualize this trend through the graph below, which illustrates how current numbers continue to fall behind the expected inventory levels of a balanced market.

(Note: The graph excludes the abnormal years of 2020-2022 due to the pandemic, ensuring an accurate comparison.)

Comparing the orange bars for 2023 with the active listings during the last “normal” market years (2017-2019), it becomes evident that the count of available properties remains significantly below the expected average.

What does this mean for you as a potential seller?

This limited inventory offers an unparalleled opportunity to unleash your advantage. With fewer options for buyers, your property gains prominence. This scarcity fuels the market momentum and has a tangible impact on key statistical indicators, as revealed by the latest Confidence Index from the National Association of Realtors (NAR):

• The percentage of homes sold within a month has slightly increased to an impressive 74%.
• Median days on the market have significantly decreased to just 18 days, indicating swift sales for appropriately priced homes.
• The average number of offers on recently sold homes has surged to an impressive 3.3 offers per property.

Bottom Line

In essence, when supply is low, the spotlight shines brightly on your property. Sellers are reaping the rewards of faster sales and increased competition. If you’ve been contemplating selling your house, now is the opportune moment to seize the advantage. Let’s connect and embark on this exciting journey to bring your selling aspirations to life.