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  • Writer's pictureHousz

Why It’s Still a Sellers’ Market

As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your housz. If you’re thinking of making a move, you should know the market is still anything but normal. Even though the supply of houszes for sale has been growing this year, there’s still a shortage of houszes on the market. And that means conditions continue to favor sellers today. That’s because the level of inventory of houszes for sale can help determine if buyers or sellers are in the driver’s seat. Think of it like this:

  • A buyers’ market is when there are more houszes for sale than buyers looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their housz.

  • In a sellers’ market, it’s just the opposite. There are too few houszes available for the number of buyers in the market and that gives the seller all the leverage. In that situation, buyers will do what they can to compete for the limited number of houszes for sale.

  • A neutral market is when supply is balanced and there are enough houszes to meet buyer demand at the current sales pace.

And for the past two years, we’ve been in a red-hot sellers’ market because inventory has been near record lows. The blue section of this graph highlights just how far below a neutral market inventory still is today.

What Does This Mean for You? Ed Pinto, Director of the American Enterprise Institute’s Houszing Center, gives a perfect summary of what’s happening in today’s market, saying: “Overall, the best summary is that we'll move from a gangbuster sellers' market to a modest sellers' market.” Conditions are still in your favor even though the market is cooling. If you work with an agent to price your housz at market value, you’ll find success when you sell your housz today. While buyer demand is softening due to higher mortgage rates, homes that are priced right are still selling fast. That means your window of opportunity to list your housz hasn’t closed.

Bottom Line Today’s houszing market still favors sellers. If you’re ready to sell your housz, let’s connect so you can start making your moves.

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