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There's Only Half the Inventory of a Normal Housing Market Today

There's Only Half the Inventory of a Normal Housing Market Today Simplifying The Market

Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.

You may have heard inventory is low right now, but you may not fully realize just how low or why thats a perk when you go to sell your house. This graph from Calculated Risk can help put that into perspective:

As the graph shows, while housing inventory did grow slightly week-over-week (shown in the blue bar), overall supply is still low (shown in the red bars). Compared to the same week last year, supply is down roughly 10% and it was already considered low at that time. But, if you look further back, youll see inventory is down even more significantly.

To gauge just how far off from normal todays inventory is, lets compare right now to 2019 (the last normal year in the market). When you compare the same week this year with the matching week in 2019, supply is about 50% lower. That means there are half the homes for sale now than thered usually be.

The key takeaway? Were still nowhere near whats considered a balanced market. Theres plenty of demand for your house because there just arent enough homes to go around. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.

So, if you want to list your house, know that theres only about half the inventory thered usually be in a more normal year. That means your house will be in the spotlight if you sell now and you may see multiple offers and a fast home sale.

Bottom Line

With the number of homes for sale roughly half of what thered usually be in a more normal year, you can rest assured theres demand for your house. If you want to sell, connect with a local real estate agent now so your house can shine above the rest while inventory is so low.

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