For the first time since June of 2019, inventory of homes for sale sees growth!
According to http://realtors.com May housing data, the inventory of homes for sale has seen an increase of 8.0%. This is a major turning point for the housing market at a national level. On the other side of the coin, the total number of unsold homes nationwide (various stages of the selling process that are not yet sold) was still down 3.9% percent from May 2021. Although, this has improved from last month’s 10.1% decline.
This doesn’t mean this hot market is cold (yet)! There are still only half as many homes available, but we are noticing more and more new listings entering the market on a regular basis. Housing remains incredibly expensive and fast-paced with the median asking price at a new high while time on market is at a new low. Because we are the experts, we are speaking from real life experience people! Impact Home Staging Experts, Oakland County and Wayne County is booming! We have seen an uptick in jobs, higher than pre-pandemic!
If you’re thinking of buying or selling a house, you’re at an exciting and nerve-wracking decision. When it comes to a big decision like that, timing is everything. So, what does the rest of the year hold for the housing market? As we already touched on, the number of homes available for sale is likely to continue to grow. There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead.
From the Expert
According to Chief Economist at realtor.com:
“The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue, . . . This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic normal.”
Keeping Current Matters
As a seller, your house will be facing more competition when other sellers list their homes. This means you REALLY need to prepare for the sale of your home. You’re not the only kid on the block, and buyers have more options. Buyers are getting smarter. The market is changing. In order to achieve a profitable sale, you need to merchandise the home like it is the best product on the block. You MUST stand out to get that high-offer you’re after. But I guess the good news is, if you’re also a buyer, having more options to choose from should make that move-up process easier.
“Do not wait to stage. This is the worst time for you to list your home and ‘see how it goes first’ – its not an option anymore. You must stage to get that top dollar offer. The market is changing”
Darla Rowley, Impact Home Staging Experts
What Role Does Staging Play in This Shift?
Staging is about showcasing an engaging, move-in ready home that creates an emotional connection with the largest pool of potential buyers. Everyone knows that your home is only worth what a buyer is willing to pay and even in a seller’s market, there are going to be flaws and other variables in each area. But, now that we are seeing as change in inventory supply, it may not be overnight, but a change is happening.
In a red hot market buyers market? Buyers can be picky, focusing on the hot property of the week and ignoring the others. So you want your property to be the hot one, with buyers going crazy to “out offer” each other. The better your home shows, the more it will sell for and no matter what the market, everyone likes more money.
“In every market, every seller wants the most Money for their home.”
Calling All Agents!
For Realtors, Your professional Home Stager is your key to keeping your commissions. At Impact Home Staging Experts, we say NO! to discounted commissions. Adding more service is the key to working smarter, not harder. And because your listings will look better and sell faster, you will become the “go to” top producing agent in the neighborhood which will increase your number of referrals!
More competition means more agents will be looking for ways to get the listings. Some will use discounted commissions as a way to attract business. How will you compete with these discount agents? Will you reduce your commissions or will you find ways to add value? We hope your answer is adding value by adding professional home staging as a key tool.
If you are in Southeast Michigan, and would like a free quote, please call us at 248-591-4290 or visit us at http://ImpactHomeStagingExperts.com. We have a quick turn around time, but we are booking a week in advance. Take the first step in making a profitable sale today. We’ve got your back! And remember, Professional Home Staging is always less than your first price reduction!
