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If you&rsquo;re thinking about selling your house, you should know the number of homes for sale right now is low.
That&rsquo;s because, this season, there are fewer sellers listing their houses for sale than the norm. Looking back at every April since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph below).
In more typical years, roughly 500,000 sellers add their homes to the market in April.
This year, we saw fewer than 400,000 sellers entering the market in April (see graph below):
<img src="https://website-images.exitrealty.com/custom-pages/agent-004597-bf8b5ed6d03096fc24ae94eb1809f57f.png" alt="" width="1000" height="750" />&nbsp;While there are a number of factors contributing to this trend, one thing keeping inventory low right now is that some homeowners are reluctant to move when the mortgage rate they have on their current house is lower than the one they could get today on their next house.
It&rsquo;s called rate lock. As a recent survey from Realtor.com explains, 56% of people who are planning to sell in the next 12 months say they&rsquo;re waiting for rates to come down. While this wait-and-see approach is right for some sellers, it also creates an opening for more eager sellers to jump in now. If your current house truly doesn&rsquo;t fit your needs anymore and you&rsquo;re ready to move, don&rsquo;t miss this chance to stand out.
When fewer sellers are putting their homes up for sale, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. That&rsquo;s why your house could see multiple offers as buyers compete over the limited supply of homes for sale &ndash; especially if you price it right. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: &ldquo;Inventory levels are still at historic lows . . . Consequently, multiple offers are returning on a good number of properties.&rdquo;
Bottom Line: If you&rsquo;re ready to sell now, beat the competition before it comes onto the market. If you do, your house should stand out and could get multiple offers. Contact me for all your real estate needs.&nbsp;

If you’re thinking about selling your house, you should know the number of homes for sale right now is low.
That’s because, this season, there are fewer sellers listing their houses for sale than the norm. Looking back at every April sinc

Now is the BEST time to sell

Ways to make your home More Energy Efficient

As the housing market continues to change, you may be wondering where it&rsquo;ll go from here. One factor you&rsquo;re probably thinking about is home prices, which have come down a bit since they peaked last June. And you&rsquo;ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that&rsquo;s not the best strategy.
A recent survey from Zonda shows 53% of millennials are still renting right now because they&rsquo;re waiting for home prices to come down. But here&rsquo;s the thing: the most recent data shows that home prices appear to have bottomed out and are now on the rise again. Selma Hepp, Chief Economist at CoreLogic, reports: &ldquo;U.S. home prices rose by 0.8% in February . . . indicating that prices in most markets have already bottomed out.&rdquo;
And the latest data from Black Knight shows the same shift. The graph below compares home price trends in November to those in February:
<img src="https://website-images.exitrealty.com/custom-pages/agent-004597-47fa6e51db97d0d42c9dc70fcdd32e95.png" alt="" width="1000" height="750" />
So, should you keep waiting to buy a home until prices come down? If you factor in what the experts are saying, you probably shouldn&rsquo;t. The data shows prices are increasing in much of the country, not decreasing. And the latest data from the Home Price Expectation Survey indicates that experts project home prices will rise steadily and return to more normal levels of appreciation after 2023.
The best way to understand what home values are doing in your area is to work with a local real estate professional who can give you the latest insights and expert advice. Contact Brenda Cahoon for all your real estate needs.&nbsp;
Source: KMC

As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard some