How Sellers Win When Housing Inventory Is Low

In todays housing market, the number of homes for sale ismuch lowerthan the strong buyer demand. As a result, homeowners ready to sell have a significantadvantage. Here are three ways todayslow inventorywill set you up for a win when you sell this season.

1. Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently getting intobidding warsfor the houses they want to purchase. According to the latest data from theNational Association of Realtors(NAR), homes are receiving an average of3.7 offersin todays market. This buyer competition driveshome pricesup. As a seller, this certainly works to your advantage, potentially netting you more for your house when you close the deal.

2. Greater Return on Your Investment

Rising prices mean homes are also gaining value, which increases the equity you have in your home. In the latestHomeowner Equity Insights Report,CoreLogicexplains:

In the second quarter of 2021, the average homeowner gained approximately51,500 in equity during the past year.

This year-over-year growth inequitygives you the ability to sell your house and then put that money toward a down payment on your next home, or to keep it as extra savings.

3. Better Terms

In asellers marketlike we have today, youre in the drivers seat if you make a move. You have the power to sell on your terms, andbuyersare more likely to work with you if it means they can finally land their dream home.

So, is low housing inventory a big deal?

Yes, especially if you want to sell on your terms.Movingnow while inventory is so low is key to maximizing your opportunities.

Bottom Line

If youre interested in taking advantage of the current sellers market, lets connect today to determine your best move.