Should you cash in on your equity and rent?
Learn More
Do you want content like this delivered to your inbox?
Share

Your House Could Be the Oasis in an Inventory Desert

Share

Your House Could Be the Oasis in an Inventory Desert

Robert Embley

Our founder and Principal Broker. Licensed since 2010. Over 100 homes sold along the Wasatch Front...

Our founder and Principal Broker. Licensed since 2010. Over 100 homes sold along the Wasatch Front...

May 13 2 minutes read

Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here’s how the shortage of houses for sale sets yours up to be the oasis in an inventory desert.

According to the National Association of Realtors (NAR), today’s housing inventory sits at an incredibly low 2.1-month supply, far below the 6-month mark for a neutral market. Inventory of single-family homes a year ago was already very low, and as you can see in the graph below, this year’s levels are even lower:

Your House Could Be the Oasis in an Inventory Desert | MyKCM

Due to these market conditions, today’s buyers frequently enter fierce bidding wars while trying to purchase a home. This in turn drives up home prices and gives sellers incredible leverage in the negotiation process, two big wins if you’re going to sell your house this year.


Bottom Line

In such a hot market, it can feel as though the supply of homes has virtually dried up, leaving buyers to wander in an inventory desert. That’s why there’s never been a better time to sell. To a parched buyer needing to secure a home as soon as possible, your house could be a true oasis.

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info