Why the Growing Number of Homes for Sale Is Good for Your Move Up

Michele Dotson • June 7, 2022

Are you thinking about selling your current home? If so, the biggest question on your mind may be: if I sell now, where will I go? If this resonates with you, there’s something you should know. The number of homes coming onto the market is increasing and that could make it easier for you to move up this summer.


According to the latest data from realtor.com, the number of homes being listed for sale, known as new listings, has increased consistently this year.


While this news has clear benefits for buyers who are craving more options for their home search, what does that mean for current homeowners like you? It gives you two distinct opportunities in today’s housing market.


Take Advantage of More Options for Your Move Up


If your current house no longer meets your needs or lacks the space and features you want, this gives you even more opportunity to sell and move up into the home of your dreams. As more options come to market, you’ll have more to choose from when you search for your next home.


Partnering with a local real estate professional can help make sure you see these listings as soon as they come onto the market. And when you do find the one, that professional can advise you on how to write a winning offer to seal the deal.


Sell Before You Have More Competition


Just know that, in order to make sure your house shines above the rest, it may make sense to put your home up for sale before your neighbors do the same, creating more competition in your area. The increase in the number of homes being listed for sale is expected to continue, and a recent study from realtor.com says two-thirds of homeowners looking to sell say they’ll do so by August.


A real estate professional can advise you on what you need to tackle to get your house ready to list so they can put that for sale sign up in your yard sooner rather than later. That’s because the process of getting a home ready to sell isn’t taking as long as you may think. As a result, you can capitalize on today’s sellers’ market and get ahead of the competition.


Bottom Line


If you’re a current homeowner looking to sell, let’s connect to begin the process. You have a unique opportunity to benefit from the additional homes being listed today and sell before your house has more competition.

Why Your House Didn’t Sell

September 29, 2023
If your listing expired and your house didn’t sell, you’re likely feeling a little frustrated. Not to mention, you're also probably wondering what went wrong. Here are three questions to think about as you figure out what to do next. Did You Limit Access to Your House? One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Being flexible with your schedule is important when you're selling your house, even though it might feel a bit stressful to drop everything and leave when buyers want to see it. After all, minimal access means minimal exposure to buyers. ShowingTime advises : “. . . do your best to be as flexible as possible when granting access to your house for showings.” Sometimes, the most determined buyers might come from far away. Since they're traveling to see your house, they may not be able to change their plans easily if you only offer limited times for showings. So, try to make your house available as much as you can to accommodate them. It’s simple. If no one’s able to look at it, how’s it going to sell? Did You Make Your House Stand Out? When selling your house, the old saying matters: you never get a second chance to make a first impression. Putting in the work to make the exterior of your home look nice is just as important as how you stage it inside. Freshen up your landscaping to improve your home’s curb appeal so you can make an impact upfront. As an article from U.S. News says : “After all, if people drive by, but aren’t interested enough to walk through the front door, you’ll never sell your house.” But don’t let that impact stop at the front door. By removing personal items and reducing clutter inside, you give buyers more freedom to picture themselves in the home. Additionally, a new coat of paint or cleaning the floors can go a long way to freshening up a room. Did You Price Your House Compellingly? Setting the right price is extremely important when you're selling your house. Even though it might feel tempting to push the price higher to maximize your profit, overpricing can scare away buyers and make it hard to sell quickly. Business Insider notes : “. . . the biggest mistake sellers make is overpricing their home.” If your house is priced higher than others like it, it could make buyers lose interest. Pay attention to the feedback people give your agent during open houses and showings. If lots of people are saying the same thing, it might be a good idea to think about lowering the price. For all these insights and more, rely on a trusted real estate agent. A great agent will offer expert advice on relisting your house with effective strategies to get it sold. Bottom Line It’s natural to feel disappointed when your listing has expired and your house didn’t sell. Let’s connect to figure out what happened and what to reconsider or change if you want to get your house back on the market.

Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon

September 29, 2023
You might remember the housing crash in 2008, even if you didn't own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there's good news – the housing market now is different from 2008. One important reason is there aren't enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn't show that happening. Housing supply comes from three main sources: Homeowners deciding to sell their houses Newly built homes Distressed properties (foreclosures or short sales) Here’s a closer look at today's housing inventory to understand why this isn’t like 2008. Homeowners Deciding To Sell Their Houses Although housing supply did grow compared to last year, it’s still low. The current months’ supply is below the norm. The graph below shows this more clearly. If you look at the latest data (shown in green), compared to 2008 (shown in red), there’s only about a third of that available inventory today.
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