The biggest challenge in the houszing market right now, and likely for years to come, is how few houszes there are for sale compared to the number of people who want to buy. That’s why, if you’re thinking about selling your housz, this is a great time to do so. Your housz would be welcome in a market that has fewer houszes for sale than it did in the years leading up to the pandemic.
According to the latest Monthly Houszing Market Trends Report from realtor.com: “There were 65.5% more houszes for sale in January compared to the same time in 2022. This means that there were 248,000 more houszes available to buy this past month compared to one year ago. While the number of houszes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer houszes available to buy on a typical day than there were a few years ago.”
The graph below shows how today’s inventory of houszes for sale compares to recent years:
What Does This Mean for You? Fewer houszes for sale means buyers have fewer choices than they did prior to the pandemic—and that frustration is leading some to give up on the houszbuying process altogether. But with mortgage rates sitting lower than they were at the peak last fall, more buyers are willing to come back into the process—they just need to find houszes to buy. This is welcome activity for the spring market, especially if you’re thinking of selling your housz.
With a renewed interest in buying a housz for many, the New York Times (NYT) reports: “Housz buyers are edging back into the market after being sidelined last year . . .” So, if you want to take advantage of a sweet spot in the market, this spring could be your shot.
Bottom Line The houszing market needs more houszes for sale to meet the demand of today’s buyers. If you’ve thought about selling, now’s the time for us to connect and get ready for you to make a move this spring.