Lisa Mailhot | September 18, 2023
Buyers
Today's real estate market is significantly influenced by the availability of homes for sale. If you're contemplating listing your property, this is a prime advantage you currently possess. With housing inventory at such low levels, your house will undoubtedly shine, especially when priced appropriately.
However, there are early indications that an influx of new listings is on the horizon. Recent data reveals an upward trend in new listings, reflecting homeowners putting their homes up for sale. Let's delve into why this development is noteworthy and what it could signify for you.
Traditionally, the busiest time in the housing market occurs during the spring buying season. During this period, there's a predictable surge in newly listed homes in the first half of the year as sellers prepare for the most active months for buyers. As the school year begins and the holiday season approaches, the market typically cools down, as expected.
What's intriguing, however, is the latest data from Realtor.com, which shows an unusual increase in the number of sellers listing their homes later in the year than usual. Such a peak this late in the year isn't the norm. The graph below illustrates both the usual seasonal trend and the atypical August surge:
as explained by Realtor.com:
“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 . . .”
While this data covers just one month, its peculiarity merits attention. While it's too early to conclusively predict if this trend will persist, staying ahead of it is advisable.
If you've been postponing the sale of your house, the current timing might be optimal. If this trend persists, waiting could lead to increased competition. If your neighbor also decides to sell, you might end up vying for buyers' attention. Selling now positions you ahead of the competition.
Despite the surge in new listings, the market still falls significantly short of typical supply levels. The graph below provides perspective on the existing opportunity:
Despite the limited inventory, it's advisable not to delay, as increased competition could emerge in your neighborhood. Presently, there's an exceptional opportunity to sell your property. Feel free to reach out to discuss the advantages of listing your house today, before more homes flood the market.
Discover the ultimate Taylor Swift-inspired Airbnb in South Jersey, offering fans a dream escape with themed rooms, Swiftie decor, and unforgettable experiences. Perfe… Read more
Did a Secret Service agent cross ethical lines by representing his subordinates in real estate transactions? Explore the case of Alfonso Dyson, promotions, and potenti… Read more
Learn how down payment assistance programs can make homeownership more accessible for buyers and help you close more real estate deals. Discover eligibility criteria, … Read more
Learn why a home equity line of credit (HELOC) may be smarter than a home equity loan this November. With expected rate cuts, a HELOC offers flexibility, savings on re… Read more
Nearly 23% of first-time homebuyers are holding off on their home search until after the upcoming election, hoping the winner’s housing policies will work in their fav… Read more
Climate disasters expose severe risks for mobile home residents, with hurricanes Helene and Milton highlighting how vulnerable these homes are. Explore why mobile home… Read more
The American Real Estate Association is exploring a class action against the National Association of Realtors (NAR) over its Clear Cooperation Policy. Learn how this p… Read more
Student loan borrowers, be prepared for significant changes in 2025 as credit reporting and collection activities resume. Learn what steps to take now to protect your … Read more
An investigation uncovers rampant discrimination against Section 8 tenants in California, with many landlords denying rental contracts to voucher holders. Learn more a… Read more
Let's find a time that suits you best to chat about your goals, show you how we work, and figure out how we can help you the most