{"id":1494,"date":"2021-02-22T14:29:11","date_gmt":"2021-02-22T14:29:11","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1494"},"modified":"2021-02-22T14:29:34","modified_gmt":"2021-02-22T14:29:34","slug":"where-have-all-the-houses-gone","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/where-have-all-the-houses-gone\/","title":{"rendered":"Where Have All the Houses Gone?"},"content":{"rendered":"
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Where Have All the Houses Gone?<\/p><\/div>\n

In today\u2019s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further. Experts consider this to be the biggest challenge facing an otherwise hot market while buyers continue to compete for homes. As Danielle Hale,\u00a0Chief Economist\u00a0<\/em>at\u00a0realtor.com<\/em>,\u00a0explains<\/a>:<\/p>\n

\u201cWith buyers active in the market and seller participation lagging,\u00a0homes are selling quickly and<\/strong>\u00a0the total number available for sale at any point in time continues to drop lower<\/strong>. In\u00a0January<\/strong>\u00a0as a whole, the number of for sale homes\u00a0dropped below 600,000<\/strong>.\u201d<\/em><\/p><\/blockquote>\n

Every month,\u00a0realtor.com<\/em>\u00a0releases new\u00a0data<\/a>\u00a0showing the year-over-year change in inventory of existing homes for sale. As you can see in the map below, nationwide, inventory is 42.6% lower than it was at this time last year:<\/p>\n

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Change in Housing Inventory Compared to This Time Last Year<\/p><\/div>\n

Does this mean houses aren\u2019t being put on the market for sale?<\/strong><\/h4>\n

Not exactly. While there are fewer existing homes being listed right now, many homes are simply selling faster than they\u2019re being counted as current inventory. The market is that competitive! It\u2019s like when everyone was trying to find toilet paper to buy last spring and it was flying off the shelves faster than it could be stocked in the stores. That\u2019s what\u2019s happening in the housing market: homes are being listed for sale, but not at a rate that can keep up with heavy demand from competitive buyers.<\/p>\n

In the same\u00a0realtor.com\u00a0<\/em>report, Hale explains:<\/p>\n

\u201cTime on the market was 10 days faster than last year<\/strong>\u00a0meaning that buyers still have to make decisions quickly in order to be successful. Today\u2019s buyers have many tools to help them do that, including the ability to be notified as soon as homes meeting their search criteria hit the market. By tailoring search and notifications to the homes that are a solid match, buyers can act quickly and compete successfully in this faster-paced housing market.\u201d<\/em><\/p><\/blockquote>\n

The Good News for Homeowners<\/strong><\/h4>\n

The health crisis has been a major reason why potential sellers have held off this long, but as vaccines become more widely available, homeowners will start making their moves. Ali Wolf,\u00a0Chief Economist\u00a0<\/em>at\u00a0Zonda<\/em>,\u00a0confirms<\/a>:<\/p>\n

\u201cSome people will feel comfortable listing their home during the first half of 2021. Others will want to wait until the vaccines are widely distributed.\u201d<\/em><\/p><\/blockquote>\n

With more homeowners getting ready to sell later this year, putting your house on the market sooner rather than later is the best way to make sure your listing shines brighter than the rest.<\/p>\n

When you\u2019re ready to sell your house, you\u2019ll likely want it to sell as quickly as possible, for the best price, and with little to no hassle. If you\u2019re looking for these selling conditions, you\u2019ll find them in today\u2019s market. When demand is high and inventory is low,\u00a0sellers<\/a>\u00a0have the ability to create optimal terms and timelines for the sale, making now an exceptional time to move.<\/p>\n

Bottom Line<\/strong><\/h3>\n

Today\u2019s housing market is a big win for sellers, but these conditions won\u2019t last forever. If you\u2019re in a position to sell your house now, you may not want to wait for your neighbors to do the same. Let\u2019s connect to discuss how to sell your house\u00a0safely<\/a>\u00a0so you\u2019re able to benefit from today\u2019s high demand and low inventory.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

In today\u2019s housing market, it seems harder than ever to find a home to buy. Finish Reading Where Have All the Houses Gone?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[38,10,18,27,91,52,25,66,49,42,23,40,252,20,12,48,13,47,89,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1494"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1494"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1494\/revisions"}],"predecessor-version":[{"id":1497,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1494\/revisions\/1497"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}