You may have heard that the housing market is softening. There is no doubt that buyer traffic has decreased. There are fewer purchasers in the market than there were last month and at this time last year. What you may not have heard, however, is that there is still a severe shortage of listing inventory in many regions of the country.
In a interview discussing the housing market, TREB's Director Of Market Analysis, Jason Mercer put it simply:
“Many GTA neighbourhoods continue to suffer from lack of inventory”
When we look at available inventory numbers released by the Toronto Real Estate Board (TREB), we see that the actual number of homes for sale has decreased in each of the last four months.
What does this mean to you as a seller?
The best time to sell is when there is less competition. That guarantees you a better price and fewer hassles in the transaction.
If you are thinking of selling your house this year, the best time to put it on the market might be right now. Check with a local agent to see whether that is true in your neighborhood.