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Are Sellers Ready to Offset the Home Supply Shortage?

Key Takeaways:

  • Multiple reports show that sellers are becoming increasingly eager to enter the housing market. 
  • Homeowners have plans to sell this year, which will offset the home supply shortage and ease local area competition for prospective buyers. 
  • Linda Craft & Team wants to ensure your home is listed before more properties flood the market! Drop us a line at 919-235-0007, and don’t settle for second. 

If You’re Ready, Come & Sell It 

The lyrics of famous singer Selena Gomez, “When you’re ready, come and get it,” have suddenly become relevant in today’s real estate market. An ongoing home supply shortage has prospective homebuyers wondering when sellers will finally return to the housing market. Today’s strong sellers’ market has set a hyper-competitive scene for aspiring buyers, however, market conditions seem to be swinging back toward buyers. 

More sellers are in sight 

graph showing percentage of respondents who say it's a good time to sell

Sellers may be becoming increasingly eager to sell according to the Home Purchase Sentiment Index (HPSI) by Fannie Mae. The HPSI noted that the percentage of respondents who say it’s an ideal time to sell increased from 61% to 67%. This bump up in consumers’ positive attitudes toward selling their homes is a hopeful sign for buyers.  

Homeowners have plans to sell this year 

couple selling their home to offset home supply shortage

George Ratiu—Senior Economist at Realtor.com—also saw more interest among sellers in a Realtor.com survey, which showed that “one in 10 homeowners plan to sell this year, with 63 percent of those looking to list in the next six months.” Even more encouragingly, survey results indicated that two-thirds of sellers plan to sell their homes at prices under $350,000—this affordable price point would pave the way toward homeownership for first-time buyers.  

Ready to Sell Your Home?

If you’re thinking about selling your Triangle area home, don’t wait for more competition to pop up down the street. Even if you have just a few questions about selling, we can always provide you with personalized real estate advice. Contact Linda Craft & Team today to get ahead of the game and list your home before more properties come to the market. 

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