Consider it a catch-2021: Because there are so few homes on the market, many people who want to sell their houses aren’t listing them right now. After all, what good is it to sell your home if you can’t find one to move into? And for renters hoping to become first-time homebuyers, the situation can feel borderline hopeless—abodes under $329,100 (the median price of a house across the U.S.) tend to be hardest to come by. Thankfully, though, a recent Realtor.com study offers a ray of hope: We’re likely to see an influx in houses hitting the market, reducing competition (and, fingers crossed, bidding wars) across the board.
A survey of 3,998 adults revealed that 10 percent of homeowners plan on selling their houses over the next 12 months, a whopping 25 percent higher than the number of homes listed in a typical (read: non-pandemic) year. Oh, and roughly 60 percent of those surveyed plan on listing their home for $350,000 or less, meaning there will be more opportunities that can appeal to first-time homebuyers specifically. Add to that the fact that this past March, construction on new single-family homes rose to the highest it’s been since 2006, and it seems like we’re finally headed toward sweet relief for buyers everywhere.