Weekly Special | February 8, 2021

Low Inventory Alert – Sellers Needed!

The supply of homes for sale is dwindling away, lower than it has ever been relative to the current rate of demand.

The graph above is great news for people contemplating selling a home, while it is a warning to buyers in the market.

For the first time ever, more than half of all current listings on the market are already under contract with buyers. More than 56% of active listings have contracts today versus just 41% just one year ago.

To make this clear, it means that when buyers go online and look at homes for sale, nearly 2 out of every 3 listings is not really available. The supply of homes for sale is far too low for buyers to be able to casually shop for a home. And the situation is getting worse, not better.

The dashed green line plots the 12-month average of the “under-contract” trend, and we’re rapidly seeing this approach 50%. We have never seen this trend hit 40% until last year, and now it is exploding through the roof.

Home Sellers Needed If you are ready to sell your home, conditions are favorable for you to get top dollar while also controlling the time frame of your move. Simply give us a call and we’ll schedule a time to put your best plan together.

The original one-page Weekly Special PDF is still available.