Is There a Housz For You Coming to the Market?
According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s houszing market is finding a housz that meets their needs. That’s largely because the inventory of houszes for sale is so low today. If you’re looking to buy a housz, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houszes this season, which may give you more options for your housz search.
Early Signs Inventory May Be Growing The latest data from realtor.com shows the number of listings coming onto the market, known in the industry as “new listings,” has increased since the start of the year (see graph below):
This indicates more sellers are listing their houszes for sale each month this year. And according to realtor.com, this growth is expected to continue. Their research finds the majority of potential sellers plan to list their houszes over the next six months. Realtor.com says: “. . . markets may see a noticeable bump in the number of houszes for sale as we move through spring and into summer. A majority of houszowners planning to sell this year indicated that they aim to list in the next six months, with almost 10% having already placed their properties on the market.”
Houszes Are Still Selling Quickly But while new listings are increasing, it’s important to know they’re also selling quickly. The latest Realtors Confidence Index from NAR shows the median days on market for recently sold houszes since the beginning of the year (see chart below). The time on market has decreased month-over-month. That means houszes are selling even faster than they did the previous month.
What That Means for You While a low-inventory market is difficult to navigate as a buyer, there is hope. The growing number of new listings and the expectation more sellers will list their houszes in the coming months is great news if you’ve had a hard time finding a housz that fits your needs. Just remember, those new listings are going fast. That means you’ll want to keep your foot on the gas and be ready to act if you find a home you love this season. Your agent can help you stay on top of the latest listings in your area so you can find the housz that’s right for you and submit your strongest offer as quickly as possible.
Bottom Line If you’ve been having a hard time finding your dream housz, stick with your search. More options are coming to market and your ideal housz could be one of them. Let’s connect so you can stay up to date on the latest listings in our market, so you can be ready to move fast when you find the one that’s right for you.