” Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.”
If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.
The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.
Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):
When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.
As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.
Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.
Bottom Line
Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.
To view original article, visit Keeping Current Matters.
Should We Fear the Surge in Cash-Out Refinances?
Today’s cash-out refinance situation bears no resemblance to the situation that preceded the housing crash.
What Credit Score Do You Need for a Mortgage?
Planning to buy a home? Speak to an expert about steps you can take to improve your credit score so you’re in the best position possible.
To Renovate or Not To Renovate Before You Sell
Spending costly time and money on renovations before you sell might just mean you’ll miss your key window of opportunity.
What Is the Strongest Tailwind to Today’s Recovering Economy?
Real estate has been a beacon of light during a very challenging time in our nation’s history.
What Is the #1 Financial Benefit of Homeownership?
The wealth-building power of homeownership shows that home is not only where your heart is, but also where your wealth is.
How to Make a Winning Offer on a Home
A real estate professional should be the expert guide you lean on for advice when you’re ready to make an offer. Let’s connect today to make sure you’re headed in the right direction.