3 Things Home Sellers Should Know About This Market

Three things homeowners looking to sell need to be aware of.

You have less competition. And, in the healthiest markets, a negotiating edge. In January, the months' supply of homes for sale (the time needed to sell all inventory at the current sales pace) fell to its lowest level since the peak of the boom, in July 2006. The number of existing homes for sale hasn't been this low since 2004.

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Patricia Mertz Esswein
Contributing Writer, Kiplinger's Personal Finance
Esswein joined Kiplinger in May 1984 as director of special publications and managing editor of Kiplinger Books. In 2004, she began covering real estate for Kiplinger's Personal Finance, writing about the housing market, buying and selling a home, getting a mortgage, and home improvement. Prior to joining Kiplinger, Esswein wrote and edited for Empire Sports, a monthly magazine covering sports and recreation in upstate New York. She holds a BA degree from Gustavus Adolphus College, in St. Peter, Minn., and an MA in magazine journalism from the S.I. Newhouse School at Syracuse University.