Lisa Mailhot | July 6, 2023
Buyers
The current housing market poses a significant challenge due to the limited availability of homes for sale in comparison to the high demand from prospective buyers. To underscore the scarcity of housing inventory, let's examine the latest data on active listings, which represent homes available for sale during a specific month, and compare it to levels considered more typical.
Based on a recent report by Realtor.com,
“On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”
This disparity can be better visualized in the graph below, which employs historical data to demonstrate the considerable lag in inventory compared to a more customary market:
Please note that the graph excludes the years 2020-2022 as they were extraordinary for the housing market. Their omission ensures a fair comparison that avoids distorting the data.
By comparing the orange bars representing 2023 with the housing market's last normal years (2017-2019), it becomes evident that the number of active listings remains significantly below the average.
If you're contemplating selling your house, the scarcity of inventory presents a favorable opportunity. With fewer options available to buyers now compared to more typical years, this scarcity continues to impact key indicators in the housing market. For instance, the latest Confidence Index from the National Association of Realtors (NAR) reveals some positive statistics that sellers will appreciate:
When supply is limited, your house gains greater visibility. Consequently, sellers are experiencing faster sales and an increase in offers. If you have considered selling, now is an opportune time to take action. Let's connect and initiate the process.
Discover the 15 U.S. cities leading in quality of life for 2024–25, as ranked by U.S. News & World Report. From affordability challenges to cultural gems and natural b… Read more
Women are redefining the luxury real estate market, emerging as powerful decision-makers in high-end home buying and selling. Discover how this trend is transforming t… Read more
Protect your investment! Learn how to identify red flags in real estate scams, from wire fraud to fake listings. Safeguard your hard-earned money with these expert tip… Read more
Discover the trends that froze the real estate market in December, as homes lingered on the market and inventory plunged. What does this mean for buyers and sellers he… Read more
California's new insurance regulation requires coverage in wildfire-prone areas but may result in significant cost increases for homeowners. Learn how this impacts hom… Read more
As real estate braces for 2025, antitrust litigation remains a key battleground. Learn about the appeals, buyer-side lawsuits, policy shifts, and DOJ scrutiny reshapin… Read more
Quitclaim deeds are a quick and efficient way to transfer property between family members or spouses without a sale. Learn what a quitclaim deed is, how to create one,… Read more
In November, existing-home sales reached a three-year high with a 6.1% annual increase, led by significant growth across three major U.S. regions. This blog explores t… Read more
Explore the challenges and solutions facing homeowners in areas known as "insurance deserts" where escalating premiums and climate risks make obtaining affordable cove… 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