$\"Today\u2019s$ \n

One of the biggest challenges in the housing market right now is how few homes<\/a> there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let\u2019s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.<\/p>\n

According to a recent report from Realtor.com<\/em><\/a>:\u00a0<\/p>\n

\u00a0\u201cOn average, active inventory in June was <\/em>50.6% below pre-pandemic 2017\u20132019 levels<\/em><\/strong>.\u201d<\/em><\/p><\/blockquote>\n
The graph<\/a> below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below<\/em>):<\/p>\n
<\/a><\/p>\n
It\u2019s worth noting that 2020-2022 are not included in this graph. That\u2019s because they were truly abnormal years<\/a> for the housing market. To make the comparison fair, those have been omitted so they don\u2019t distort the data.<\/p>\n
When you compare the orange bars for 2023 with the last normal years for the housing market (2017-2019), you can see the count of active listings is still far below the norm.<\/p>\n
What Does This Mean for You?<\/strong>\u00a0<\/h4>\nIf you\u2019re thinking about selling your house<\/a>, that low inventory is why this is a great time<\/a> to do so. Buyers have fewer choices now than they did in more normal years, and that\u2019s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index<\/em><\/a> from the National Association of Realtors <\/em>(NAR):<\/p>\n
\n
The percent of homes that sold in less than a month ticked up slightly to 74%.\u00a0<\/li>\n
The median days on market went down to 18 days, showing homes are still selling fast when priced right.\u00a0<\/li>\n
The average number of offers on recently sold homes went up to 3.3 offers.<\/li>\n<\/ul>\n
Bottom Line<\/h3>\n
When supply is so low, your house is going to be in the spotlight. That\u2019s why sellers are seeing their homes sell a little faster and get more offers right now. If you\u2019ve thought about selling<\/a>, now\u2019s the time to make a move<\/a>.\u00a0Connect with a trusted real estate professional to get the process started.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let\u2019s take a look at the latest information on active listings, or homes for sale […]<\/p>\n","protected":false},"author":1,"featured_media":4060,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-4059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t