Selling a House? Here Is What the Market Looks Like In the USA (Part 3 of 6)

Higher Prices, Lower Inventory

Higher prices push buyers away from the market, forcing sellers to reduce prices. However, a flourishing economy boosts buyers’ confidence despite the price hike. People are still looking for a home to buy.

There may be fewer buyers at the moment, but lack of inventory balances the equation for the sellers.

Almost all the major housing markets in the US suffer from an inventory shortage. This means even though there are fewer buyers, they have fewer options to choose from. Together, both trends play out well for the sellers. The property might spend more days on the listings, but there is still a better chance to sell it at your desired rates.

Recently, the market has seen an improvement in terms of inventory. The rate of inventory decline is down 2.2 percent from the last year. It is the first annual increase in the housing stock in three years. While it may not be enough to balance the supply and demand equation as of now, it puts sellers in “better now than later” situation.