The Number of Homes For Sale Is Finally Growing
With the shortage in housing inventory being a major reason for double-digit price appreciation in the past two years, the number of homes available for sale has become an important number for real estate professionals, as well as buyers and sellers alike.
According to data from realtor.com, active listings have increased over the last four months. This is great data especially for would-be purchasers who are already frustrated with the bidding wards over the homes that are available.
Several factors are seen that could be reasons why we may continue to see an increase in listings in the upcoming months:
1. Pent-up selling demand – Homeowners may be more comfortable putting their homes on the market as more and more Americans get vaccinated.
2. New construction is starting to take off – As more new homes are built, there will be more options for current homeowners to consider when they sell. The lack of options has slowed many potential sellers in the past.
3. Home Equity – Many homeowners will be able to sell their homes instead of going to foreclosure, which will lead to some additional listings on the market.
What does it mean for you as a buyer? New listings are becoming available every day. With the help of a trusted realtor, you will be able to find a home that is perfect for you and your family.
As a home seller, you may want to list your home before additional competition comes to the market.