Moving this Holiday Season?
Moving this Holiday?
Are you considering a move this holiday season?
Well, If you are it's crucial to stay informed about the current state of the housing market.
Hello This is Rima Rafeh with the Rafeh Group
And....Here's the latest update on the availability of homes for sale. Whether you're in the market to buy or sell, supply and demand of homes in your local area should be on your radar.
It's the season to observe recurring trends known as seasonality.
Spring emerges as the peak seaon for homebuyers, with a surge in new listings. This is when the market experiences the highest influx of properties hitting the market, aptly referred to as "new listings."
As we transition into the second half of the year, there's typically a decrease in the number of new listings as the pace of sales slows down.
The graph here will show you, based on Realtor.com data, provides a visual representation of this seasonal pattern and highlights how this year (indicated by the black line) is deviating from the norm.
What Does This Mean for You?
For buyers, the stabilization of new listings is a positive indicator. It signifies a more consistent flow of housing options entering the market, offering a broader range of choices to meet your specific needs.
For sellers, while new listings are moving from the seasonal trend, it's important to note that inventory remains below pre-pandemic levels. As seen in the
graph, this year's black line still falls below the typical range.
This suggests that inventory isn't experiencing a sudden surge, and prices aren't poised for a significant downturn. Additionally, with less competition from other sellers compared to a typical year, your property stands a better chance of standing out and attracting those motivated buyers.
Whether you're looking for your next home or thinking of selling, now might just be the perfect time to make your move. If you have any questions or concerns about the availability of homes in our area, let’s connect today 661-236-8899