Team West Homes AZ

03/30/2024

02/22/2024

If your future includes homeownership, start planning now so you’re prepared when the right opportunity comes along.
These are only projections.

12/21/2023

I will never promote investment opportunities that require a commitment or money. I will never direct people to another site for investment purposes. There seems to be a lot of people using my Facebook as a tool to refer people to bogus investment deals.
Don’t give them the time of day, they are sick scammers!

12/04/2023

The Sun Belt is poised for real estate growth, according to the Emerging Trends in Real Estate report from PwC and the Urban Land Institute.

08/18/2023

Homes where the loan-to-value ratio is 50% or lower — equity-rich homes — are on the rise, which is good news for homeowners.

08/18/2023

This uptick in sales caused inventory to shrink by 35.2% in July, while days on market increased by 112.8% year over year to 83 days.

08/08/2023

There's About Half the Inventory of a Normal Housing Market Today

Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.

You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house. The graph below from Calculated Risk can help put that into perspective:

As the graph shows, while housing inventory did grow slightly week-over-week (shown in the blue bar), overall supply is still low (shown in the red bars). Compared to the same week last year, supply is down roughly 10% – and it was already considered low at that time. But, if you look further back, you’ll see inventory is down even more significantly.

To gauge just how far off from normal today’s inventory is, let’s compare right now to 2019 (the last normal year in the market). When you compare the same week this year with the matching week in 2019, supply is about 50% lower. That means there are half the homes for sale now than there’d usually be.

The key takeaway? We’re still nowhere near what’s considered a balanced market. There’s plenty of demand for your house because there just aren’t enough homes to go around. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”

So, if you want to list your house, know that there’s only about half the inventory there’d usually be in a more normal year. That means your house will be in the spotlight if you sell now and you may see multiple offers and a fast home sale.

Bottom Line
With the number of homes for sale roughly half of what there’d usually be in a more normal year, you can rest assured there’s demand for your house. If you want to sell, connect with a local real estate agent now so your house can shine above the rest while inventory is so low.