It’s just as real estate agents suspected: the housing industry is becoming a seller’s market. The Wall Street Journal recently reported the number of homes listed for sale fell by 4.9% in January, leaving only 1.74 million homes on the market. This means there’s a growing amount of buyers searching the market while the supply of homes shrinks. The lack of choice and inventory means home prices will continue to rise. Sellers have the chance to make a return of investment and even earn a larger profit. However, barely anyone is selling their home.
Advantages of a Seller’s Market
Sellers benefit from this market trend because the power of choice is in their hands. Buyers are hunting for their dream home in a shrinking supply of houses and are willing to pay more money for it (if they do find it). They know if they don’t get the house, they’ll have to wait a long time before they can find another great home. Plus, when a home goes on sale, there will be multiple buyers making offers. Again, there aren’t many homes to search for, so that means you’ll have plenty of people looking to buy your home. Prices have been going up dramatically since 2012, and it’s a great year to make a profit on your property.
If you’ve been thinking about selling, fill out the form below and we’ll be happy to discuss how we can sell your home.