A noteworthy factor helping shape the real estate market these days is the number of homes available for sale. That can have a significant impact on what buyers have to choose from, but it can also make a difference for sellers who are considering listing their homes for sale. When inventory levels are low, your home will stand out especially when priced correctly.
For quite some time now we have been faced with slim levels of inventory, but is that going to change in the near future? There have been some early signs of more listings coming soon. According to a recent data release from Realtor.com, new listings have been trending upward. Here is a closer look at the findings.
The most typical busy season for the majority of markets is spring. This is the most anticipated time of year for an uptick in the volume of homes being listed on the market for sale. Sellers are often ramping up for these months when buyers are most active. By contrast, as soon as the school year kicks off and then the holidays approach, then the market tends to cool which is also expected. However, based on the data from Realtor.com there is an uptick in the number of sellers putting their homes on the market for sale later this year than usual.
As Realtor.com explains: “While inventory continues to be in short supply, August witnessed an unusual uptick in newly listed homes compared to July, hopefully signaling a return in seller activity heading toward the fall season . . .”
Although this is only one month of data, it is unusual enough to be noted. It is still too early to know if this trend will persist, but it is something to monitor.
What This Means
If you have been reluctant to put your home on the market now may be a good time to do so. If more homes come on soon as this trend indicates, then you will have more competition. Inventory levels are still on the low end and while they won’t be drastically changed overnight, you may have a good opportunity to list sooner than waiting until later.