Is it time to stop talking about housing supply?

As our Quinn & Wilson agents work with real estate buyers in Montgomery County one of the things they are reporting is that there are more houses to show to them. Open Houses, once unnecessary, are popping up again.  Multiple offers…yes they are still happening…but it may be three offers, not thirty.

The chart above is from BrightMLS, the service Quinn & Wilson agents use every day as they counsel buyers and sellers. According to that chart, 117 new residential, detached homes were added to the market during the last seven days.  As you can see, that number is almost double the amount in the middle of the month and triple the amount at the end of April.  According to that chart, things are improving.

What does that mean for you if you have been considering selling your home? While one week is not a trend, it may be the start of one.  More inventory on the market means more options for buyers to consider.  More options to consider means buyers can be more picky.  That could start to “normalize” the market slightly.

If you are on the fence about your home sale, please contact us now as we would like to provide the important data that you need at this point in the process.  If you would rather call, our number is 215-885-7600.