Thinking of Selling? You Should Act NOW!
If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.
Lawrence Yun, Chief Economist at the National Association of Realtors, recently commented:
“Buyer interest is solid, but there is just not enough supply to satisfy demand. Prospective buyers are being sidelined by both limited choices and home prices that are climbing too fast.”
Yun goes on to say:
"Current demand levels indicate sales should be stronger, but it's clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions."
In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction, including the inspection, appraisal and financing contingencies.
Bottom Line
As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.
The “Take It or Leave It” Attitude Is Fading from the Market – What That Means for You
That’s why whether you’re buying or selling today, there are two terms you’ll hear a lot: concession and incentive.
What Buying or Selling a Home Gives Back to Your Community
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The 1 Factor That Explains Everything Happening with Home Prices Right Now
The national average of 1.7% price growth is accurate, but it’s an average of two very different stories happening at the same time – the few areas experiencing mild declines and the overwhelming majority that are still seeing prices rise.
That House That’s Been Sitting Could Be Your Best Shot at a Deal
A local agent has the context to tell which homes are the real opportunities and which are skippable.
Could Moving a Bit Further Out Change Everything About Your Budget?
Every market has more affordable pockets that most buyers never think to explore. A great local real estate agent knows exactly where those places are.
What Rising Inflation Means for Your Move
Here’s what’s actually going on, why it matters for the housing market, and what it means if you’re thinking about buying or selling.