Wednesday, July 21, 2021 / by Flr Team
With House Supply Rising, What Does That Mean for You?
One important factor in today’s housing market is the number of homes for sale. While the inventory levels sit at a historic low, there are indications that we may have hit the lowest point we’ll see. We’re still not close to a balanced market but we are finally seeing a slow but steady increase in homes coming up for sale. This leaves many buyers and sellers wondering the same thing: what does that mean for me?
Buyers: More Options Are Arriving, So Act Fast
More supply means that there are more options to choose from with less competition. This could mean fewer bidding wars. If you have been experiencing trouble trying to find your next home, this news should give you the hope and motivation to keep your buying process moving forward. Experts are projecting that mortgage rates will begin increasing which will make purchasing homes less affordable. Capitalize on today’s market with low interest rates.
Sellers: The Supply Challenges Are Not Over Yet, so Now is the Time to Sell
Don’t put off selling your home for much longer. The year’s month-over-month gains in homes for sale have helped buyers, but we’re still very much in a seller’s market. Selling your home this summer gives you the chance to get ahead of the potential competition and maximize your sale opportunity before more homes hit the market in your neighborhood.
Bottom line, more homes for sale equals more options for buyers and more competition for sellers. Whether you are looking to buy or sell your home, contact our team at Florida Lifestyle Realty to discuss your options on what your home process could look like!
Florida Lifestyle Realty