Where have all the houses gone?

But really, where have all the houses gone?
In today’s market it seems harder than ever to find a home to buy a home, it seems like they’re nowhere to be found.

Before the pandemic hit a year ago, there was already a shortage of homes for sale. 

In Iowa, inventory is currently 40.6% lower than this time last year {swipe to see nationwide numbers}

***Numbers from realtor.com

Does this mean houses aren’t being listed for sale?

Not exactly. While there are fewer existing homes being listed right now, many homes are simply selling faster than they’re being counted as current inventory. The market is extremely competitive! 

It’s like when everyone was trying to find toilet paper to buy last spring and it was flying off the shelves faster than it could be stocked in the stores. That’s what’s happening in the housing market: homes are being listed for sale, but not at a rate that can keep up with heavy demand from competitive buyers.

The Good News for Homeowners

The health crisis has been a major reason why potential sellers have held off this long, but as vaccines become more widely available, homeowners will start making their moves. 

With more homeowners getting ready to sell later this year, putting your house on the market sooner rather than later is the best way to make sure your listing shines brighter than the rest.

When you’re ready to sell your house, you’ll want it to sell as quickly as possible, for the best price, and with little to no hassle. If you’re looking for these selling conditions, you’ll find them in today’s market. When demand is high and inventory is low, sellers have the ability to create optimal terms and timelines for the sale, making now an exceptional time to move.

Bottom line:

Today’s housing market is a big win for sellers, but these conditions won’t last forever. If you’re in a position to sell your house now, you may not want to wait for your neighbors to do the same. Contact a local real estate professional for advice on how to sell your house safely so you’re able to benefit from today’s high demand and low inventory.