If more sellers enter the market, more inventory will become available. Added inventory may not seem like great news if you’re hoping to sell. But having more housing supply can be helpful for the second part of your transaction—when you need to find a new home to buy.
It may help to keep in mind that:
- Whether you plan to trade up or downsize, you’ll have more listings to choose from. This is an improvement from past years when demand was sky-high. Though booming demand made it easy to sell, many sellers felt stuck when they couldn’t secure a new home in their price range.
- Inventory remains historically low. In fact, it hasn’t even returned to pre-pandemic levels. This means that, while more houses may be listed compared to last year, there’s a continued inventory shortage that needs correcting. If you sell now, your home should still get attention if it’s priced right.
Home prices are expected to hold steady in 2024, and this benefits sellers. Sustained prices are due to low inventory levels. As a result, you could sell your home at a competitive price—and use the profits to fuel your move into a new house.