Selling Your Home? You'll Want to Hear This First
The once red-hot seller's market that garnered multiple offers in the first few days of a listing is no longer the norm. While the housing market is still favoring home sellers, the real estate market is changing. This means sellers need to take a more calculated and careful approach to listing a home right now. If you're planning to sell your home in the coming months, you'll definitely make sure you read this first.
Newly listed homes rose by 4.5%, which is in line with pre-pandemic levels. More sellers are listing their homes to take advantage of today's pricing before things shift, meaning buyers have more options when shopping.
June marked the largest jump in inventory in history -- an 18.7% increase from the year prior -- but it's still well below 2019 levels. Housing inventory remains thin, despite the recent uptick, which means the market still favors higher pricing due to limited supply. But rising interest rates are putting a damper on growth. People are getting priced out of the market due to higher mortgage rates combined with record-high home prices.
Source Fool.com
