Homebuyers are flocking to the Triangle market by the thousands to find their dream homes. Unfortunately for many, the inventory of starter and trade-up homes in the the Triangle has struggled to keep up with demand!
According to the National Association of Realtors (NAR), the inventory of homes for sale dropped 7.1% year-over-year to a 4.3-month supply. That’s down for the 25th consecutive month.
Some homeowners may be hesitant to list their homes for sale. They are worried that it will difficult finding a home to buy and move in to. This is a legitimate concern; no one wants to sell their home quickly and not have anywhere to live.
But there is good news! If you are thinking of moving up to a luxury or premium home, there is more inventory available in these markets. You may even get a great deal on a home that has been on the market for a while.
If you are looking to move into a trade-up home, or if you are just looking to relocate to a new area in a home of the same size, there is still hope!
In many markets, homeowners are building contingency plans into their contracts. This means that the homeowner builds in extra time before they close in order to find their dream home. Sellers are upfront about the contingency with any buyers who come to see the house.
Your home is an oasis to buyers who are searching for homes in today’s market. The right buyers will sympathize and wait for you and your family to find your next home.
Bottom Line
Don’t let the fear of not finding a home to move in to stop you from moving on with your life. Let’s get together to discuss ways to set expectations with potential buyers from the start.
