The inventory of homes for sale has been low for years. In fact, supply has been an issue for most of the past decade. Then, it got worse during the pandemic. Low inventory has long been a frustration for home buyers – who have had to fight through the resulting affordability conditions, competition from other buyers, and a lack of choices when shopping for a home to buy. But according to a new survey of homeowners, there may be hope on the horizon.
The survey found nearly a quarter of respondents say they are either listing their home for sale or considering selling their home in the next three years. That's up from 19 percent during the first quarter of 2023 and 8 percent higher than last year at the same time. Additionally, 40 percent of respondents who said they're considering selling say they think they'll sell next year.
That's good news for buyers, as it'll add much-needed inventory to the supply of previously owned homes for sale. That'll help calm price increases and offer buyers a better shot at finding their dream home.
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