How will this impact buyers?

More inventory means more options. Danielle Hale, Realtor.com’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:

“It’s not spectacular construction growth, but it’s slow and steady in the right direction. Eventually, the pickup in single-family home construction will mean [buyers] will have more options. Especially with the limited number of sales right now, more options are really needed.”

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

1. A great price on their home as buyers outbid each other for it
2. A quick sale as buyers have so little to choose from
3. Fewer hassles as buyers don’t want to “rock the boat” on the deal

With an increase in competition, the seller may not enjoy these same benefits. As Hale said:

“As new construction continues to increase, home shoppers will eventually have more [choices] and a bit more time to make purchase decisions compared to today’s quick-moving housing market.”

Bottom Line

If you are considering the sale of your home, it might make sense to beat this new construction competition to the market.

Tips for Preparing Your House for Sale

When listing your house for sale, your top goal will be to get the house sold for the best price possible! There are many small projects you can do to ensure this happens!

10 Tips to Improve Your House’s Curb Appeal

• Give your entry a facelift with a new coat of paint or a new front door
• Don’t forget to landscape your yard! A well groomed

lawn shows buyers that the home was taken care of

• Make sure all exterior lights are in working order

& replace au outdoor light bulbs

• Wash all windows (inside & out) – you don’t want to

Take away from a great view with dirty windows!

• Clean out your garage! Consider getting a storage unit to store any non-essential items
• Depending on the climate in your area add a pop or color by planting flowers.
• Remove any lawn ornaments that you will want to bring with you to your new home.
• Replace a worn out welcome mat to welcome buyers as they tour the home
• Paint or replace the street numbers on the house.
• making them more visible
• Power wash any outdoor surf aces to give them a ‘like new’ feel (ex: siding, sidewalks. driveway)

10 Tips to Make Your House Feel Like Home to Buyers

• Clean everything! A clean home will allow buyers to picture themselves In the space and not distract them.
• Give every room a purpose -even If you used It as a bonus room, giving it an identity will help buyers.
• Let the light in! Bright rooms feel warm & inviting, dark rooms feel small & gloomy

• Fix anything that is broken – buyers will notice & may offer less for your house if repairs are required.
• De clutter your house! Thinning out your closets & pantry will show how much room is actually available.
• Fresh paint & new carpet are the top 2 things you can do to help your home sell faster and for more money.
• Organize the kitchen. Store any non-essentials, small appliances & clean all surfaces

• Before your home is shown, empty all trash bins & hide any dirty laundry
• Make sure all doors open & close smoothly. Fix any squeaks on bedroom or closet doors.
• Replace light bulbs with new ones & make sure all switches work.

Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!