November’s national housing market indicators showed overall improvement. Although home values are trending up in most large markets, the inventory of homes for sale is trending down, and the number of homes on the market continues to be limited.
Due to the shortage of homes for sale, many homeowners have been reluctant to put their homes on the market even though they could sell for top dollar. Those who did decide to sell in 2021 found the real estate marketplace dominated by multiple bids, price escalation clauses, contingency waivers, and all-cash offers.
Currently, about one in four homeowners choose not to put their homes on the market because finding a new home they can afford can be difficult. However, it appears improving conditions are around the corner as more homeowners are planning to sell in the next six months.