Low Supply and Multiple Bids

Market Times have dropped like a rock since the start of the year, squeezed by not enough sellers.

When it comes to listing their home, most home Sellers want three things: 1) to make a lot of money, 2) to put in minimal time and effort, and 3) to sell quickly. But the reality is, selling a home is rarely that simple.

Lack of FOR-SALE Signs in the past few years, there has been a severe inventory crisis initially instigated by the pandemic and now due to the high mortgage rate environment. Since the pandemic, there have not been enough homes available, and 2023 is no different.

It’s all about the rates in the housing market, from the number of homeowners willing to sell to the volume of buyers able to afford to purchase.

Over the past few years, many of us have spent extra time at home—and that means we appreciate the personal design touches that make a house cozy and comfortable more than ever.

After an extremely slow end to 2022, buyers are returning to the housing market. Demand is already up sharply, and market times are plunging fast. It is important to keep in mind, demand is pretty shallow for this time of year, 23% less than last year and 38% below the 3-year average before Covid (2017-2019).

Regardless of the economic situation, without fail housing revs its enormous economic engine and the market heats up during the Winter Market, from mid-January to midMarch. Last year the inventory of available homes hit a record low and by mid-January, there were only 1,080 homes on the market.

We all want to be good neighbors. But when it comes to selling your home, it’s not just about “keeping up with the Joneses.” It’s about outshining them at every opportunity!