Low Housing Inventory Presents Opportunity for Eager Home Sellers

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The number of homes for sale is low, and if you’re planning to sell, you should be aware of this trend. Compared to previous Aprils, the only year with fewer sellers listing their homes was April 2020, when the pandemic caused a downturn in the housing market. There are several factors contributing to this trend, including rate lock, which is when homeowners are hesitant to move when the mortgage rate on their current house is lower than what they could get on their next house.

According to a survey by Realtor.com, 56% of potential sellers are waiting for rates to come down before listing their homes. However, this creates an opportunity for eager sellers to stand out in the market with less competition. When fewer sellers list their homes, buyers have fewer options, which means that your house could see multiple offers and get more attention if you price it right.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), notes that inventory levels are still at historic lows, which is leading to multiple offers on many properties. If you’re ready to sell your house, don’t wait for the competition to catch up. By acting now, you could set yourself up for success in a market with limited supply. Connect with a trusted real estate advisor to get your house market-ready and make the most of this opportunity.

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Dowell Family Team
Author: Dowell Family Team

Berkshire Hathaway HomeServices Kansas City Realty team serving the residential needs if Kansas Citian’s including Olathe, Overland Park, Gardner, Spring Hill, Leawood, Lenexa, Shawnee and surrounding Johnson County cities.

Author: Dowell Family Team

Berkshire Hathaway HomeServices Kansas City Realty team serving the residential needs if Kansas Citian’s including Olathe, Overland Park, Gardner, Spring Hill, Leawood, Lenexa, Shawnee and surrounding Johnson County cities.

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