Don’t Wait To Sell Your Home

Dated: June 16 2021

Views: 40

We’re in the ultimate sellers’ market right now. If you’re a homeowner thinking about selling, you have a huge advantage in today’s housing market. High buyer demand paired with very few houses for sale makes this the optimal time to sell for those who are ready to do so. Whatever the move you want to make looks like, here’s an overview of what’s creating the prime opportunity to sell this summer.

High Buyer Demand

Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered “very strong” in almost every state. Homebuyers aren’t just great in number right now – they’re also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly frequent bidding wars can drive up the price of your house, which is why high demand from competitive homebuyers is such a win for this summer’s sellers.

Low Inventory of Houses for Sale

Purchaser demand is so high, the market is running out of available homes for sale. Danielle Hale, Chief Economist at realtor.comexplains:

“For most sellers listing sooner rather than later could really pay off with less competition from other sellers and potentially a higher sales price… They’ll also avoid some big unknowns lurking later in the year, namely another possible surge in COVID cases, rising interest rates and the potential for more sellers to enter the market.”

NAR also reveals that unsold inventory sits at a 2.4-months’ supply at the current sales pace. This is far lower than the historical norm of a 6.0-months’ supply. Homes are essentially selling as fast as they’re hitting the market. Below is a graph of the existing inventory of single-family homes for sale:Don’t Wait To Sell Your House | Keeping Current MattersAt the same time, homebuilders are increasing construction this year, but they can’t keep up with the growing demand. While reporting on the inventory of newly constructed homes, the U.S. Census Bureau notes:

“The seasonally‐adjusted estimate of new houses for sale at the end of April was 316,000. This represents a supply of 4.4 months at the current sales rate.”

What Does This Mean for You? 

If you’re thinking of putting your house on the market, don’t wait. A seller will always negotiate the best deal when demand is high and supply is low. That’s exactly what’s happening in the real estate market today.

Bottom Line

As vaccine rollouts progress and we continue to see the economy recover, more houses will come to the market. Don’t wait for the competition in your neighborhood to increase. If you’re ready to make a move, now is the time to sell. Contact a local real estate agent today to get your house listed at this optimal moment in time.

https://www.keepingcurrentmatters.com/2021/06/16/dont-wait-to-sell-your-house/

Blog author image

Michelle Cantrell

Michelle is a native of Southwest Missouri and has twenty-eight years of experience in selling real estate in the greater Springfield area! Michelle specializes in all price points, including new cons....

Latest Blog Posts

Design Trends You’ll See Everywhere This Year

Interior design has a fresh look! After years of subtle trend changes, this year style gets a complete makeover. Spaces are being lightened, softened, and eclectic merging of styles encouraged. If

Read More

The Community and Economic Impacts of a Home Sale

If you’re thinking of buying or selling a house, chances are you’re focusing on the many extraordinary ways it’ll change your life. What you may not realize is that decision

Read More

Real Estate Home Inspections and Appraisals in the New Normal

Even during the COVID-19 outbreak, real estate transactions go on. Buyers and sellers still need to move, and the industry is looking for new ways to accommodate both the needs of the transaction,

Read More

7 Cool Ways to Repurpose Old Furniture

Are you looking for a fun project that will add some pizzazz to your home – that doesn’t require a degree in carpentry? Before you leave your old furniture on the curb with a sign that

Read More