Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. The Monthly Housing Market Trends Report from realtor.com puts it this way:
“While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”
The current housing shortage has an impact on how you search for a home this spring. With limited options on the market, buyers who consider what’s a necessity versus what’s a nice-to-have will be more successful in their home search.
The first step? Get pre-approved for a mortgage. Pre-approval helps you better understand what you can borrow for your home loan, and that plays an important role in how you’ll put your list together. After all, you don’t want to fall in love with a home that’s out of reach. Once you have a good grasp on your budget, the best way to prioritize all the features you want and need in a home is to put together a list.
Here’s a great way to think about them before you begin:
Finally, once you’ve created your list and categorized it in a way that works for you, discuss it with your real estate agent. They’ll be able to help you refine the list further, coach you through the best ways to stick to it and find a home in your area that meets your needs.
Stay up to date on the latest real estate trends.
Let’s connect to determine if selling your house now is the right move for you
Owning a home still claims the #1 spot for many Americans today
Most economists no longer expect a recession to occur in the next 12 months.
The data shows there isn’t cause for concern – there are actually more signs of hope
Institutional investors are actually the smallest percentage of owners of Single-Family Rentals
Homeownership isn’t just a financial decision
More sustainable price growth than we’ve seen in recent years.
Data shows there are still significantly fewer homes for sale than there would be in a more normal market.
Here are four reasons you shouldn’t wait to sell your house.
You’ve got questions and we can’t wait to answer them.