Are More Homes Coming onto the Market?

We have been discussing for many months now, the affect that low inventory is having on the market place. We’ve also pointed out how, if you’re considering selling your home, this is one one of your biggest advantages right now. We know that when housing inventory is this low, your house is more likely to stand out, especially if it’s priced right.

Interestingly though, we are seeing some early signs that more listings are coming. According to the latest data, newly listed homes for sale are trending up. Here’s why this is something worth noting and how if may affect you:

More Homes Are Coming onto the Market than Usual
It is generally agreed upon that the busiest selling time is the spring season. Because of that we typically see an increase in the number of homes for sale at that time of year. Sellers usually anticipate this and ramp up for the months when buyers are most active. And, as the school year gets underway in the fall and as the holidays approach, the market usually cools.

But this year may be different. Based on the latest data from Realtor.com, there’s an increase in the number of sellers listing their houses later this year than usual. A peak this late in the year isn’t typical. But even with more homes coming onto the market, the market is still well below normal supply levels. And, that inventory deficit isn’t going to be reversed overnight.

You can see both the normal seasonal trend and the unusual August in the graph below:

Here is what Realtor.com said:
“While inventory continues to be in short supply, August witnessed an unusual uptick in newly listed homes compared to July, hopefully signaling a return in seller activity heading toward the fall season . . .”

Although this information represents just one month of data, its uniqueness is noteworthy. It’s premature to definitively conclude whether this trend will persist, but it’s crucial to monitor and anticipate it if it does.

What This Means for You
If you have been delaying the sale of your house, now could be a strategic time to act, simply to avoid the possibility of facing increased competition if this trend persists. If your neighbor decides to sell their property as well, you might find yourself vying for the attention of potential buyers. By choosing to sell now, you may have an opportunity to stay ahead of the game.

The graph below helps put this into context, so you can see the opportunity you still have now:

Bottom Line
Even though inventory is still low, you don’t want to wait for more competition to pop up in your neighborhood. You still have an incredible opportunity if you sell your house today. Connect with our team to explore the benefits of selling now before more homes come to the market.