{"id":2054,"date":"2021-09-16T16:23:18","date_gmt":"2021-09-16T16:23:18","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2054"},"modified":"2021-09-16T16:23:18","modified_gmt":"2021-09-16T16:23:18","slug":"number-homes-sale-finally-growing","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/number-homes-sale-finally-growing\/","title":{"rendered":"Is the Number of Homes for Sale Finally Growing?"},"content":{"rendered":"
\"\"

Is the Number of Homes for Sale Finally Growing?<\/p><\/div>\n

An important metric in today\u2019s residential real estate market is the number of homes available for sale. The shortage of available\u00a0housing inventory<\/a>\u00a0is the major reason for the double-digit price appreciation we\u2019ve seen in each of the last two years. It\u2019s the reason many would-be purchasers are frustrated with the bidding wars over the homes that are available. However, signs of relief are finally appearing.<\/p>\n

According to\u00a0data<\/a>\u00a0from\u00a0realtor.com<\/em>, active listings have increased over the last four months. They define active listings as:<\/p>\n

\u201cThe active listing count tracks the number of for sale properties on the market<\/strong>, excluding pending listings where a pending status is available. This is a snapshot measure of how many active listings can be expected on any given day of the specified month.\u201d<\/em><\/p><\/blockquote>\n

What normally happens throughout the year?<\/strong><\/h4>\n

Historically, housing inventory increases throughout the summer months, starts to tail off in the fall, and then drops significantly over the winter. The graph below shows this trend along with the month active listings peaked in 2017, 2018, and 2019.<\/p>\n

\"\"

Yearly Trends of Active Monthly Listings and Peaks<\/p><\/div>\n

What happened last year?<\/strong><\/h4>\n

Last year, the trend was different. Historical seasonality wasn\u2019t repeated in 2020 since many homeowners held off on putting their houses up for sale because of the pandemic (see graph below<\/em>). In 2020, active listings peaked in April, and then fell off dramatically for the remainder of the year.<\/p>\n

\"\"

Last Year’s Active Monthly Listings and Peak<\/p><\/div>\n

What\u2019s happening this year?<\/strong><\/h4>\n

Due to the decline of active listings in 2020, 2021 began with record-low housing inventory counts. However, we\u2019ve been building inventory over the last several months as more listings come to the market (see graph below<\/em>):<\/p>\n

\"\"

Comparing Trends in Active Listings Count<\/p><\/div>\n

There are three main reasons we may see listings continue to increase throughout this fall and into the winter.<\/p>\n

    \n
  1. Pent-up selling demand<\/strong>\u00a0\u2013 Homeowners may be more comfortable putting their homes on the market as more and more Americans get vaccinated.<\/li>\n
  2. New construction is starting to take off<\/strong>\u00a0\u2013 Though new construction is not included in the\u00a0realtor.<\/em>com<\/em>\u00a0numbers, as more new homes are built, there will be more options for current homeowners to consider when they sell. The lack of options has slowed many potential sellers in the past.<\/li>\n
  3. The end of forbearance will create some new listings<\/strong>\u00a0\u2013 Most experts believe the end of the forbearance program will not lead to a wave of foreclosures\u00a0for several reasons<\/a>. The\u00a0main reason<\/a>\u00a0is the level of equity homeowners currently have in their homes. Many homeowners will be able to sell their homes instead of going to foreclosure, which will lead to some additional listings on the market.<\/li>\n<\/ol>\n

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

    If you\u2019re in the market to buy a home,\u00a0stick with it<\/strong>. There are new listings becoming available every day. If you\u2019re thinking of selling your house, you may want to list your home before this additional competition comes to market.<\/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>
    \n    Facebook<\/a>
    \n    Linkedin<\/a>
    \n    Twitter<\/a>
    \n    Instagram<\/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 OF ADVICE.<\/em><\/h5>\n","protected":false},"excerpt":{"rendered":"

    The shortage of available\u00a0housing inventory\u00a0is the major reason for the double-digit price appreciation we\u2019ve seen in each of the last two years. However, signs of relief are finally appearing. Finish Reading Is the Number of Homes for Sale Finally Growing?<\/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":[38,15,10,18,16,91,366,52,284,9,66,84,23,106,405,404,252,63,20,12,48,28,54,47,19,6,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2054"}],"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=2054"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2054\/revisions"}],"predecessor-version":[{"id":2059,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2054\/revisions\/2059"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=2054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=2054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=2054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}