Key Takeaways:
- Today’s housing inventory is incredibly low, thus creating an inventory desert for homebuyers.
- Market conditions make right now the ideal time for sellers to make a move. Your home may be the stream of water these buyers need in the housing desert.
- Linda Craft & Team have unmatched experience in selling Triangle area homes for top dollar—contact us today to get your home listed.
Here’s How the Housing Shortage Helps Sellers
Homebuyers are aggressively approaching the housing market to take advantage of today’s record-low mortgage rates. Real estate experts predict a steady rise in both rates and home prices this year and next, so buyers are more eager now than ever to make moves in the market. This increased buyer demand strongly outweighs the current housing inventory. Here’s how the housing supply shortage can transform your home into an oasis in the inventory desert.
Today’s housing inventory is even lower than last year’s
According to the National Association of Realtors (NAR), today’s housing inventory is at an especially low 2.1-month supply, which is far below the 6-month mark for a normal market. The graph below shows how the inventory of single-family homes is even lower this year than last:
Sellers should slam dunk this housing shortage
Due to the competitive nature of the current housing market, homebuyers frequently partake in fierce bidding wars while trying to purchase a home—thus, homes are selling for even more than anticipated, and sellers have incredible leverage in the negotiation process. Sounds like a slam dunk for sellers if you ask us!
Wanting to Buy or Sell? Let Us Help!
In such a hot market, homebuyers may feel like the supply of homes has dried up, but Linda Craft & Team knows how to help buyers find their personal oasis. The key to today’s housing market is patience from buyers and expertise from the Realtors they work with. Linda Craft & Team are the top Realtors in the Triangle area, and we have all the local area information necessary to secure your dream home today!
Wanting to sell your home? There’s never been a better time to quench these buyers’ thirsts. Contact our team or call us at 919-235-0007 to get the personalized buying and selling advice you need to navigate the Triangle real estate market.