Over the last few years, many sellers have been hesitant to put their houses on the market because they terrifying not being able to find another home to buy.
We’ve opens in a new window reported on inventory shortages in the past, plus it’s been a constant concern just for potential buyers throughout recent years. New research shows the inventory concern can be starting to decrease among potential buyers.
According to opens in a new window First American , the 2 leading obstacles to homeownership that will buyers feel today are Affordability plus Limited Inventory . This means the feeling that homes are usually less affordable has risen, as the fear of limited inventory has reduced, delivering a wealth of good news meant for sellers. At the same time, over the past 12 months, we’ve seen a steady month-over-month increase in the number of homes coming to market for purchase. In the past, the lack of entries and available inventory slowed down real estate market. This recent increase in current inventory has many buyers and retailers now thinking it is time to make their own move – and rightfully therefore! For the last two months, we’ve seen more than 4 months of inventory provided for sale, a promising number that’s been slowly increasing this year and creating more buying opportunities. To further support the idea of an improving real estate market, Sam Khater, the Chief Economist at Freddie Mac pc says,
“…In the near-term, we expect the housing market to continue to improve from both a product sales and price perspective. ”
A lot of experts, like Sam, believe the 2nd half of 2019 will drive the stronger market than we noticed at the beginning of the year. This is great news meant for homeowners who have put off getting their houses on the market and are now ready to make a move.
What a distinction we’ve seen over the course of this year! Should you be thinking of selling, now is the time as stock is on the rise.
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Oliver and Devinee Overton-Morgan
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