July 6, 2023

Mid adult couple unpacking vegetables at kitchen island. Man and woman are at home. They are spending time together.

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’s 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.

According to a recent report from Realtor.com

 “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

The graph 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):

It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so they don’t distort the data.

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.

What Does This Mean for You? 

If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s 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 from the National Association of Realtors (NAR):

  • The percentage of homes that sold in less than a month ticked up slightly to 74%. 
  • The median days on the market went down to 18 days, showing homes are still selling fast when priced right. 
  • The average number of offers on recently sold homes went up to 3.3 offers.

Bottom Line

When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. Connect with me to get the process started.

– Marcus Bruno
Real Estate Broker
Bruno Fine Properties
(281) 969-3817

About the Broker/Owner 

Marcus Bruno

I am a licensed real estate broker with over 20 years of experience in the industry. I started my career in 2000 as a real estate agent, and in 2010 I became a broker. I have a passion for helping people find their dream homes and negotiate the best deals. I specialize in residential real estate, and I have extensive knowledge of the local market and trends. In 2015, I moved to Houston with my family and in 2018 opened Bruno Fine Properties Inc, a real estate brokerage that serves the Spring area and surrounding communities.  I am a proud father of five beautiful girls, and I have been happily married to my wife Malika Bruno since 2003. When I am not working, I enjoy spending time with my family, playing golf, and reading. I am always eager to meet new clients and look forward to sharing my knowledge.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
>