• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Live the Flagstaff Life

Live the Flagstaff Life

Flagstaff Lifestyle and Real Estate

  • Homepage
  • Blog
  • Flagstaff Events
  • Get Started
    • Buyers
    • Request a Buyer’s Guide
    • Request a Seller’s Guide
    • Instant Home Value
  • Vacation Rentals
  • About Me
    • An Interview With Katannya
    • Contact
    • Privacy Policy
    • Terms and Conditions

Sellers Are Returning to the Housing Market

August 18, 2020 by Katannya Hartwell Leave a Comment

Share
Email
Share
Pin
Tweet

In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand. Now, however, we’re seeing sellers slowly starting to come back into the market, a bright spark for potential buyers. Javier Vivas, Director of Economic Research at realtor.com, explains:

“Seller confidence has been improving gradually after reaching its bottom in mid-April, and now it appears to have reached an important recovery milestone…After five long months, sellers are back in the housing market; while encouraging, the improvement to new listings is only the first step in the long road to solving low inventory issues keeping many buyers at bay.”

Even with the number of homes coming into the market, the available inventory is well below where it needs to be to satisfy buyer interest. The National Association of Realtors (NAR) reports:

“Total housing inventory at the end of June totaled 1.57 million units, up 1.3% from May, but still down 18.2% from one year ago (1.92 million). Unsold inventory sits at a 4.0-month supply at the current sales pace, down from both 4.8 months in May and from the 4.3-month figure recorded in June 2019.”

Houses today are selling faster than they’re coming to market. That’s why we only have inventory for 4 months at the current sales pace when in reality we need inventory for 6 months to keep up. But, as mentioned above, sellers are starting to return to the game. Realtor.com explains:

“The ‘housing supply’ component – which tracks growth of new listings – reached 101.7, up 4.9 points over the prior week, finally reaching the January growth baseline. The big milestone in new listings growth comes as seller sentiment continues to build momentum…After constant gradual improvements since mid-April, seller confidence appears to be reaching an important milestone. The temporary boost in new listings comes as the summer season replaces the typical spring homebuying season. More homes are entering the market than typical for this time of the year.”

Why is this good for sellers?

A good time to enter the housing market is when the competition in your area is low, meaning there are fewer sellers than interested buyers. You don’t want to wait for all of the other homeowners to list their houses before you do, providing more options for buyers to choose from. With sellers starting to get back into the market after five months of waiting, if you want to sell your house for the best possible price, now is a great time to do so.

Why is this good for buyers?

It can be challenging to find a home in today’s low-inventory environment. If more sellers are starting to put their houses up for sale, there will be more homes for you to choose from, providing a better opportunity to find the home of your dreams while taking advantage of the affordability that comes with historically low mortgage rates.

Bottom Line

While we still have a long way to go to catch up with the current demand, inventory is slowly starting to return to the market. If you’re thinking of moving this year, let’s connect today so you’re ready to make your move when the home of your dreams comes up for sale.

Filed Under: Real Estate Tagged With: Flagstaff Az Realtor, Flagstaff Realtor, Real Estate in Flagstaff Arizona, Real Estate in Flagstaff Az

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Stay Up To Date

Sign up to receive free market updates from Live the Flagstaff Life

Search

Footer

Katannya Hartwell
REALTOR®

Connect with me on:

  • Facebook
  • Instagram
  • Twitter
  • YouTube
  • The Kingswood
  • Flagstaff Golf Communities

Copyright © 2023 · Agent Focused Pro by Winning Agent · Log in

Village Land Shoppe | Privacy Policy | Terms of Conditions