We’re in a Sellers’ Market. What Does That Mean? 03.30.2023

Dated: March 30 2023

Views: 28


Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions today so good if you want to list your house?

It starts with the number of homes available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph below):

What Does This Mean for You?

When the supply of homes for sale is as low as it is right now, it’s much harder for buyers to find one to purchase. That creates increased competition among purchasers and keeps upward pressure on prices. And if buyers know they’re not the only one interested in a home, they’re going to do their best to submit a very attractive offer. As this happens, sellers are positioned to negotiate deals that meet their ideal terms. Lawrence Yun, Chief Economist at NAR, says:

“Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.”

Right now, there are still buyers who are ready, willing, and able to purchase a home. If you list your house right now in good condition and at the right price, it could get a lot of attention from competitive buyers.

Bottom Line

Today’s sellers’ market holds great opportunities for homeowners ready to make a move. Listing your house now will maximize your exposure to serious, competitive buyers. Let’s connect to discuss how to jumpstart the selling process.

Blog author image

Jennifer Dorn

Jennifer Dorn is an Associate Broker with Samson Properties. Currently, she specializes in representing clients in the purchase and/or sale of residential, commercial, and income property within the ....

Latest Blog Posts

Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC]

Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC]Some HighlightsHome affordability depends on three factors: mortgage rates, home prices, and wages.Mortgage rates are

Read More

We’re in a Sellers’ Market. What Does That Mean? 03.30.2023

We’re in a Sellers’ Market. What Does That Mean?Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale

Read More

4 Key Tips for Selling Your House This Spring 03.29.2023

4 Key Tips for Selling Your House This SpringSpring has arrived, and that means more and more people are getting their homes ready to sell. But with recent shifts in real estate, this year’s

Read More

Get Ready: The Best Time To List Your House Is Almost Here 03.27.2023

Get Ready: The Best Time To List Your House Is Almost HereIf you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast

Read More