{"id":7571,"date":"2021-07-14T10:00:52","date_gmt":"2021-07-14T10:00:52","guid":{"rendered":"https:\/\/thezakariagroup.com\/housing-supply-is-rising-what-does-that-mean-for-you\/"},"modified":"2021-07-14T10:00:52","modified_gmt":"2021-07-14T10:00:52","slug":"housing-supply-is-rising-what-does-that-mean-for-you","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/housing-supply-is-rising-what-does-that-mean-for-you\/","title":{"rendered":"Housing Supply Is Rising. What Does That Mean for You?"},"content":{"rendered":"
\n

\"Housing<\/p>\n

An important factor in today\u2019s market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we\u2019ll see<\/strong>. Odeta Kushi, Deputy Chief Economist at First American,<\/em> recently said<\/a> of our supply challenges:<\/span><\/p>\n

\n

\u201cIt looks like inventory may have hit a bottom<\/em><\/strong> (we\u2019ve seen this in the higher frequency data as well). Unsold inventory in May was at 2.5 months supply, up from 2.4.<\/em>\u201d<\/p>\n<\/blockquote>\n

To put it into perspective, the graph below shows levels of inventory rising<\/a> since the beginning of the year:\"Housing<\/a>We\u2019re still not close to a balanced market<\/a>, which would be a 6 months\u2019 supply of homes for sale. However, we are seeing a slow but steady increase in homes coming up for sale. <\/strong>And that leaves many buyers and sellers wondering the same thing: what does that mean for me?<\/p>\n

Buyers: More Options Are Arriving, so It\u2019s Time To Act <\/strong><\/h4>\n

If you\u2019re a buyer, more inventory coming to market is a welcome sight. More supply means more options<\/a> and less competition, which could mean fewer bidding wars.<\/p>\n

According to the latest Monthly Housing Market Trends Report<\/em><\/a>,<\/em> supply levels are continuing to increase, which is different from the typical summer<\/a> market:<\/p>\n

\n

\u201cIn June, newly listed homes grew by 5.5% on a year-over-year basis, and by 10.9% on a month-over-month basis. Typically, fewer newly listed homes appear on the market in the month of June compared to May. This year, growth in new listings is continuing later into the summer season, a welcome sign for a tight housing market<\/strong>.<\/em>\u201d<\/p>\n<\/blockquote>\n

If you\u2019re having trouble finding your next home, this news should give you the hope and motivation to keep your buying process moving forward. Experts project mortgage rates<\/a> will begin increasing, which will make purchasing a home less affordable as time passes. You can still capitalize on today\u2019s low interest rates, so stick with your search <\/strong>as more homes come to market.<\/strong><\/p>\n

Sellers: Our Supply Challenges Aren\u2019t Over Yet, so Now Is the Time To Sell<\/strong><\/h4>\n

If you\u2019ve been putting off selling your house, you shouldn\u2019t wait much longer. The year\u2019s month-over-month gains in homes for sale have helped buyers, but we\u2019re still very much in a sellers\u2019 market.<\/p>\n

As the graph below shows, even with the number of homes for sale rising, we\u2019re still well below the supply levels we\u2019ve seen historically:\"Housing<\/a>Of course, more homes are coming to market now, and more are expected in the coming months. Selling your house<\/a> this summer gives you the chance to get ahead of the competition and maximize your sales potential before more homes are put up for sale in your neighborhood<\/strong>.<\/p>\n

Bottom Line<\/strong><\/h3>\n

More homes for sale means more options for buyers and more competition for sellers. Whether you\u2019re looking to buy or sell, let\u2019s connect today to discuss your options and why it\u2019s still a good time to make your move.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

An important factor in today\u2019s market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we\u2019ll see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges: \u201cIt looks like inventory may have hit […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[99,100,102],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nHousing Supply Is Rising. 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