First-time homebuyers are flocking to the real estate market by the
thousands to find their dream homes in order to make their dreams of
homeownership a reality. Unfortunately for many, the inventory of
starter and trade-up homes in the US has struggled to keep up with
According to the National Association of Realtors (NAR), the inventory of homes for sale dropped 7.1% year-over-year to a 4.3-month supply and is down for the 25th consecutive month.
homeowners may be hesitant to list their homes for sale because they
are worried that they will also have a problem finding a home to buy and
move in to. This is a legitimate concern; no one wants to sell their
home quickly and not have anywhere to live.
But there is good news!
If you are thinking of moving up to a luxury or premium home, there is
more inventory available in these markets and you may even get a great
deal on a home that has been on the market for a while.
If you are
the owner of a starter home and you are looking to move into a trade-up
home, or if you are just looking to relocate to a new area in a home of
the same size, there is still hope!
In many markets, homeowners
are building contingency plans into their contracts. This means that the
homeowner builds in extra time before they close in order to find their
dream home and they are upfront about the contingency with any buyers
who come to see the house.
Your home is an oasis to buyers who are
searching for homes in today’s market. The right buyers will sympathize
and wait for you and your family to find your next home.
let the fear of not finding a home to move in to stop you from moving
on with your life. Let’s get together to discuss ways to set
expectations with potential buyers from the start.