Are you stuck? Did you pause your home search because you were confused by the headlines and tired of bidding wars? Well it is good time to get back into the market today. Why? Our local market is undergoing an interesting shift and the supply of homes for sale is increasing as a consequence. This shift means you have a better chance of finding a home that will meet your current needs. More homes means more choice. Here are some options to consider.
Buying an Existing Home Can Give You That Lived-in Charm
According to the National Association of Realtors (NAR), the supply of existing homes (a home that’s been previously owned) has steadily increased since the beginning of the year. The graph below indicates inventory levels are rising, and that’s largely due to more homes coming onto the market and the pace of sales slowing:
As the graph shows, if you’re looking for a home with lived-in charm, supply is rising, and that’s great news for you. There are several benefits to buying an existing home. Many buyers want to purchase a home with history, and the character of older houses is hard to reproduce. Existing homes can often be part of an established neighborhood featuring mature landscaping that can give you additional privacy and boost your curb appeal. Plus, timing can be a consideration as well. With an existing home, you can move in based on the timeline you agree to with the sellers.
Bottom Line
With the supply of homes for sale rising, you have options for your next home no matter what your preferences. I can help look at all the pros and cons and provide you with current market information to help you make the best decision. You can easily click here to search ALL of the Santa Fe area and get some reality. Thank you for reading. Remember, I am available to help you find solutions moving forward. I am available for a consult about your needs. Just call/text 505.587.7997 or email continue this conversation. Emily Medvec