Housing Inventory - Good news or bad?

Below is a chart of the housing inventory nationally for 2015. This same trend is expected to occur in the Phoenix market for 2016. The amount of homes for sale tends to increase especially for the months of April and May.
What does this mean for you?
If you are trying to sell this means you will be facing more competition. If you list your home during this time there are likely going to be more buyers but you need to ensure your home is in a condition to outshine the competition. Also, price it right, immediately when it hits the market and hire an agent with a marketing plan. Simply putting your home in MLS will not sell your home for top dollar. These three things will ensure your home will sell.
If you are thinking of buying during the months of high inventory there are far more options for you to choose from increasing your chances of finding a great home. There also tends to be an increase in buyers giving you a bit of competition when it comes to price and concessions.