By: Robert Warren
Going into the housing market in real estate right now there are few homes for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is in real estate, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.
According to a recent report from Realtor.com:
“On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”
What Does This Mean for You?
If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from the National Association of Realtors (NAR):
The percentage of homes that sold in less than a month ticked up slightly to 74%.
The median days on the market went down to 18 days, showing homes are still selling fast when priced right.
The average number of offers on recently sold homes went up to 3.3 offers.
When supply is so low, your house will be in the spotlight in real estate. That’s why sellers in real estate are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to move. Let’s connect to get the process started.
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Check out our blog "Tarrant County Real Estate Market," by clicking here.