What a Difference a Year Makes for Sellers

Over the last few years, many sellers have been hesitant to puttheir houses on the market because they feared not being able tofind another home to buy.

We’ve reported on inventory shortages in thepast, and it’s been a constant concern for potential buyersthroughout recent years. New research shows the inventory concernis starting to decrease among potential buyers.

According to First American, the two leadingobstacles to homeownership that buyers feel todayare Affordability and LimitedInventory. This means the feeling that homes are lessaffordable has risen, while the fear of limited inventory hasdecreased, delivering a wealth of good news for sellers.

At the same time, over the past 12 months, we’ve seen asteady month-over-month increase in the number of homes coming tomarket for purchase. In the past, the lack of listings andavailable inventory slowed down the real estate market. This recentincrease in current inventory has many buyers and sellers nowthinking it is time to make their move – and rightfully so!For the last two months, we’ve seen over 4 months ofinventory become available for sale, a promising numberthat’s been slowly increasing this year and creating morebuying opportunities.

To further support the idea of an improving real estate market,Sam Khater, the ChiefEconomist at Freddie Mac says,

“…In the near-term, we expect the housingmarket to continue to improve from both a sales and priceperspective.” 

Many experts, like Sam, believe the second half of 2019 willdrive a stronger market than we saw at the beginning of the year.This is great news for homeowners who have put off getting theirhouses on the market and are now ready to make a move.

Bottom Line

What a difference we’ve seen over the course of this year!If you’re thinking of selling, now is the time as inventoryis on the rise.