The biggest problem with the US real estate market over the past few years has been that supply has fallen far short of demand. Therefore, if the house was in good condition, of course, it was a situation where buyers would have lots of offers to choose from. From the buyers point of the view, they wanted to find a good house from a limited number of options, so the price had no choice but to go up.
At least it seems to be calming down a little bit. Compared to January 2022, the number of houses that came out this January increased by 65.5%. That means about 248,000 more homes are on the market.
but…
This is still a situation that is still 34% less compared to January 2020, i.e. before corona. Compared to January 2017, it is said to be 43% less.
Now, what does this mean for buyers? Looking at many figures, it is expected that the supply will continue to be short in the future. House prices are more likely to rise. In other words, if you are planning to buy a house, it would be a good idea to purchase it as early as possible.
What about sellers? In the case of sellers, it is clearly advantageous to sell when supply is insufficient these days.
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