We’re in a Sellers’ Market. What Does That Mean?

Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions [today](https://www.simplifyingthemarket.com/2023/03/08/2-things-sellers-need-to-know-this-spring/) so good if you want to list your house? It starts with the [number of homes](https://www.simplifyingthemarket.com/2023/02/17/the-spring-housing-market-could-be-a-sweet-spot-for-sellers-infographic/) available for sale. The latest [_Existing Home Sales Report_](https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales) from the _National Association of Realtors_ (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers _(see graph below)_: [](https://files.keepingcurrentmatters.com/content/images/20230329/20230329-months-inventory-of-homes-for-sale-MEM.png) #### What Does This Mean for You? When the supply of homes for sale is as low as it is right now, it’s much harder for buyers to find one to purchase. That creates increased competition among purchasers and keeps upward pressure on prices. And if buyers know they’re not the only one interested in a home, they’re going to do their best to submit a very attractive offer. As this happens, [sellers](https://www.simplifyingthemarket.com/2023/03/13/leverage-your-equity-when-you-sell-your-house/) are positioned to negotiate deals that meet their ideal terms. Lawrence Yun, Chief Economist at NAR, [says](https://www.nar.realtor/newsroom/existing-home-sales-surged-14-5-in-february-ending-12-month-streak-of-declines): ###### _“Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.”_ Right now, there are still [buyers](https://www.simplifyingthemarket.com/2023/03/16/what-buyer-activity-tells-us-about-the-housing-market/) who are ready, willing, and able to purchase a home. If you list your house right now in good condition and at the [right price](https://www.simplifyingthemarket.com/2023/03/29/4-key-tips-for-selling-your-house-this-spring/), it could get a lot of attention from competitive buyers. ### Bottom Line Today’s sellers’ market holds great opportunities for homeowners ready to [make a move](https://www.simplifyingthemarket.com/2023/03/27/get-ready-the-best-time-to-list-your-house-is-almost-here/). Listing your house now will maximize your exposure to serious, competitive buyers. Let’s connect to discuss how to jumpstart the selling process. Posted by [Ryan Drowne](https://www.thedavidgreengroup.com/blog/author/ryandrowne/) on April 3rd, 2023 Enjoy this blog post? Click here to subscribe for updates [Facebook Share this post on Facebook](https://www.thedavidgreengroup.com/blog/httpswwwsimplifyingthemarketcomen20230330were-in-a-sellers-market-what-does-that-meana713258-9a8342b.html# "Share this post on Facebook") Twitter Tweet this post on Twitter [Email Send a link to post via Email](mailto:?subject=We%E2%80%99re%20in%20a%20Sellers%E2%80%99%20Market.%20What%20Does%20That%20Mean%3F&body=I%20was%20looking%20at%20https%3A%2F%2Fwww.thedavidgreengroup.com%2Fblog%2F%20and%20I%20thought%20you%20would%20like%20to%20look%20at%20this%20blog%20entry%3A%0D%0Ahttps%3A%2F%2Fwww.thedavidgreengroup.com%2Fblog%2Fhttpswwwsimplifyingthemarketcomen20230330were-in-a-sellers-market-what-does-that-meana713258-9a8342b.html "Send a link to post via Email")[](https://www.thedavidgreengroup.com/blog/httpswwwsimplifyingthemarketcomen20230330were-in-a-sellers-market-what-does-that-meana713258-9a8342b/print.html "Opens new window with print ready page") ### Leave A Comment Leave text box empty Full Name\- required Email Address\- required Website Link e.g. yourwebsitename.com Comment\- required Submit Comment Please note that your email address is kept private upon posting. Message us ··· Chatra AS  Alexandra Salmon DG  David Green Ask us anything – we’ll get back to you here or by email. [We run on Chatra](https://chatra.com/?utm_source=logo_f&utm_campaign=US_www.thedavidgreengroup.com&utm_medium=selfie_en_get) reCAPTCHA Recaptcha requires verification. [Privacy](https://www.google.com/intl/en/policies/privacy/) - [Terms](https://www.google.com/intl/en/policies/terms/) protected by **reCAPTCHA** [Privacy](https://www.google.com/intl/en/policies/privacy/) - [Terms](https://www.google.com/intl/en/policies/terms/)