If you’re ready to buy a home but struggling to find one, you’re not alone. With so few houses for sale at this time, it’s normal to wonder if you’ll actually find one to buy.
According to the National Association of Realtors (NAR), the inventory of available homes for sale is at an all-time low across the country.
The good news? More homes are expected to hit the market later this year. Keep reading to find out where homes will come from as 2021 continues on.
Homeowners Who Didn’t Sell Last Year
From fears about the pandemic to financial instability, plenty of homeowners decided not to move last year.
Now that vaccines are being distributed, it should bring some peace of mind to many potential sellers. Many of the homeowners who decided not to sell in 2020 will enter the market later this year as they begin to feel more comfortable showing their house in person and having more security in life.
New Construction
Last year was a strong year for home builders, and 2021 is expected to be even better. With more houses being built around the country, homeowners will be able to move into their dream homes. When they sell their current home, it sets a chain reaction in motion for other hopeful buyers.
Those Impacted by the Economic Crisis
Many experts don’t anticipate a large wave of foreclosures coming to the market, some homeowners who have been impacted economically will, however, need to move this year.
With fears of the pandemic starting to ease, new homes being built, and more listings coming to the market prior to foreclosure, there’s hope if you’re planning to buy this year. And if you’re thinking of selling, doing so while demand for your house is high might create an outstanding move-up option for you.
How Can You Benefit?
Housing demand is high while supply is low. if you’re considering moving, it’s a great time to do so. There are likely many buyers who are looking for a home just like yours, and there are options coming for you to find a new house too.
Let’s connect today to see how you can benefit from what’s available in our local market.