rising housing

What Does a Rising Housing Supply Mean for Buyers and Sellers

An important factor in today’s market is the number of homes for sale. Right now, the market is as hot as the boy band craze of the 90’s. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see.

As more houses come online and create a more balanced market, many buyers and sellers are wondering, ‘what does that mean for me’?

Buyers: What Does That Mean for Me? 

If you’re a buyer, more inventory coming to market is a welcome sight. More supply means more options and less competition, which could mean fewer bidding wars. But this doesn’t mean you should wait a year or two to see what happens.

If you’re having trouble finding your next home, this news should actually give you the hope and motivation to keep your buying process moving forward. Experts project mortgage rates will begin increasing, which will make purchasing a home less affordable as time passes. You can still capitalize on today’s low-interest rates, so stick with your search as more homes come on the market.

Sellers: What Does This Mean for Me?

If you’ve been putting off selling your house, you shouldn’t wait much longer. The year’s month-over-month gains in homes for sale have helped buyers, but we’re still very much in a sellers’ market.

Of course, more homes are coming to market now, and more are expected in the coming months. Selling your house this season gives you the chance to get ahead of the competition and maximize your sales potential before your whole neighborhood goes up for sale and you’re competing with those ‘perfect’ Joneses down the block.

What You Need to Know

More homes for sale means more options for buyers and more competition for sellers. Whether you’re looking to buy or sell, connect with your trusted real estate advisor today to discuss your options and why it’s still a good time to make your move.

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