According to NAR, the unsold inventory available today “sits at a 3.0-month supply at the current sales pace,” which is down from a 3.7-month supply in November. The current inventory is half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory. This is good news for sellers, as Lawrence Yun, Chief Economist at NAR, says:
Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”
As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a home:
If you’re ready to list your home, you can feel good about the current sentiment in the market. Contact me today to determine the best next step when it comes to selling your house this year.
