PAT@PATOWEN.COM
    (888) 728-6936

Pat Owen Realty

Brea Real Estate, La Habra Real Estate, Orange County

  • Home
  • About
  • Contact
  • REO
  • Foreclosure Help and Prevention
  • What’s Your Home Worth?

Where to move when you sell your house…

Wondering Where You’ll Move if You Sell Your House Today?

Wondering Where You’ll Move if You Sell Your House Today? | MyKCM

If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. That’s because today’s market is undergoing a shift, and the supply of homes for sale is increasing as a result. That means you may have a better chance of finding a home that will meet your current needs. 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:

Wondering Where You’ll Move if You Sell Your House Today? | MyKCM

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.

Danielle Hale, Chief Economist for realtor.com, gives insight into why more homeowners are listing their homes and adding to the growing supply of existing homes today:

“Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That’s prompted a growing number of homeowners to sell homes this year compared to last, giving home shoppers much needed options. We’ve seen more homes come up for sale this year compared to last year . . .”

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, rather than building a new home and waiting for construction to finish. This is something to keep in mind, especially if you need to move sooner rather than later.

Just remember, while more sellers are listing their homes, supply is still low overall. That means you’ll have more options to choose from as you search for your next home, but you’ll still need to be prepared for a fast-moving market.

Purchasing a Newly Built or Under Construction Home Means Brand New Everything

Census data shows there’s an increasing number of new homes available for sale. It includes homes that are under construction, soon to be completed, and fully built. As the graph below highlights, the supply of new homes for sale has also grown this year:

Wondering Where You’ll Move if You Sell Your House Today? | MyKCM

When building a new home, you can create your perfect living space and customize it to your lifestyle. That could mean everything from requesting energy efficient options to specific design features. Plus, you’ll have the benefit of all new appliances, windows, roofing, and more. These can all help lower your energy costs, which can add up to significant savings over time.

The lower maintenance that comes with a newer home is another great advantage. When you have a new home, you likely won’t have as many little repairs to tackle, like leaky faucets, shutters to paint, and other odd jobs around the house. And with new construction, you’ll also have warranty options that may cover portions of your investment for the first few years.

Keep in mind, purchasing a new home could mean waiting a considerable amount of time before you can move. Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy at the National Association of Home Builders (NAHB), explains:

“New single-family home inventory remained elevated at a 7.7 months’ supply. . . . However, only 8.3% of new home inventory is completed and ready to occupy. The remaining have not started construction (25.9%) or are currently under construction.”

That’s an important factor when making your decision and one you should discuss with a trusted real estate advisor. They’ll help you think through all the pros and cons of both new and existing homes to help you arrive at your best decision.

Bottom Line

With the supply of homes for sale rising, you have options for your next home no matter what your preferences are. If you have questions or want help deciding what’s best for you, let’s connect and start the conversation today.

Posted in: Uncategorized

Post navigation

« On the fence about selling? This may help you decide.
It’s Still a Seller’s Market »

About Us

BREA’S BEST REALTOR & TOP REO AGENT

Listing and selling real estate since 1990. Pat Owen’s Brea office is located within a few miles of four different county lines: Orange County, Los Angeles County, Riverside County and San Bernardino County. This allows him to service 100’s of cities with ease. He and his staff are well versed in all aspects of real estate listing and sales including: REO, short sales, probate, trustee sales, auctions and standard sales. Call Pat today at 888-PAT OWEN (888-728-6936) for all of your real estate needs. His Newport Beach office specializes in beachfront homes and services the OC coastline as well as South Orange County.

DRE BROKER LIC# 01076539

Serving The Following Cities:

Alhambra, Aliso Viejo, Aliso Viejo, Alta Loma, Anaheim, Anaheim Hills, Arcadia, Arlington, Artesia, Artesia, Azusa, Baldwin Park, Bell, Bell Gardens, Bellflower, Belmont Shore, Bixby Knolls, Brea, Bristol, Brookhurst Center, Buena Park, Cabrillo, Canyon Lake, Carson, Cerritos, Charter Oak, Chino, Chino Hills, City of Commerce, City of Industry, Claremont, Corona, Costa Mesa, Covina, Cudahy, Diamond Bar, Dominguez , Downey, East Los Angeles, El Monte, El Toro, Etiwanda, Federal, Fountain Valley, Fullerton, Garden Grove, Gardena, Glendale, Guasti, Hacienda Heights, Harbor City,
Hawaiian Gardens, Hazard, Holiday, Huntington Beach, Huntington Park, Inglewood, Irvine, Irwindale, La Habra, La Habra Heights, La Mirada, La Puente, La Verne, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Elsinore, Lake Forest, Lakewood, Long Beach, Los Alamitos, Los Angeles, Los Nietos, Mesa Center, Mira Loma, Mission Viejo, Monrovia, Montclair, Montebello, Naples, Newport Beach, Norco, North Long Beach, Norwalk, Olinda, Ontario, Orange, Paramount, Pasadena, Pico Rivera, Placentia, Pomona, Quail Valley, Rancho Cucamonga, Rancho Santa Margarita, Riverside, Rosemead, Rossmoor, San Clemente, San Gabriel, San Juan Capistrano, Santa Ana, Santa Fe Springs, Santa Margarita, Seal Beach, Signal Hill, South Gate, South San Gabriel, Sun City, Sunkist, Torrance, Trabuco Canyon, Tustin, Upland, Villa Park, Vista del Mar, Walnut, Walnut Park, West Covina, Westminster, Whittier, Yorba Linda

Contact Us

YES, I'LL CALL PAT OWEN TODAY!


888-728-6936 (888-PAT OWEN)
PAT@PATOWEN.COM
© 2023 · Equity Framework
 

Privacy Policy · Listings Sitemap · Log in