People can’t buy what isn’t for sale.
And there are fewer houses for sale right now than in the past few spring markets, according to new data from Trulia, the national home listing site. (Trulia is one of the major listing sites that bring USRealty.com listings to buyers nationally.)
This year, for the 100 biggest U.S. cities, there are 8.7% fewer starter houses and 7.9% fewer move-up houses available, compared to spring 2016. (Buyers of luxury houses still have plenty of houses to choose from.)
Does a tight market mean that now’s the right time to sell? Maybe, if any of these three key factors are especially important to you:
- You want to sell quickly. USRealty.com is seeing listing sell swiftly – often, in a matter of a few days. If you hate the hassles of having a house on the market, and think you might want to move sometime soon, and if you are willing to price your house in line with current norms in your neighborhood, you likely can sell quickly yet this spring.
- Your house is affordable for first-time buyers. Moderately sized houses with low carrying costs are flying off the market. You’ll want to make sure it’s clean and functional, of course, and it’s always smart to replace aging appliances. But you don’t have to have a fancy bathroom or granite kitchen counters to win attention in today’s market.
- Your house is in a top school district. Move-up buyers are looking for location just as much as a bit more space. Many young families put a premium on school district and are willing to remodel or expand a smaller house to fit their needs. The lack of move-up houses means that move-up buyers are likely to take on a house that they can customize, especially if they envision living there for a decade or more to see their children through school in the same district.