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.
Home Prices Are Climbing in These Top Cities
Persistent demand coupled with limited housing supply are key drivers pushing home values upward.
What Is Going on with Mortgage Rates?
Based on current market data, experts think inflation will be more under control and we still may see the Fed lower the Federal Funds Rate this year.
How Buying or Selling a Home Benefits Your Community
It makes sense that housing creates a lot of jobs because so many different kinds of work are involved in the industry.
What More Listings Mean When You Sell Your House
if you’re considering whether or not to list your house, today’s limited supply is one of the biggest advantages you have right now.
Tips for Younger Homebuyers: How To Make Your Dream a Reality
An agent will help you prioritize your list of home features and find houses that can deliver on the top ones.
Now’s a Great Time To Sell Your House
Late spring and early summer are generally considered the best times to sell a house as these are the seasons most people move and buyer demand grows.
