What It Means To Be In A Sellers Market

Dated: March 31 2020

Views: 0

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):What It Means To Be in a Sellers’ Market | Keeping Current MattersWhen 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. Reach out to our team and we will give you a free market analysis to see what your home could sell for! 417-414-0324.

source: https://www.keepingcurrentmatters.com/2021/03/29/what-it-means-to-be-in-a-sellers-market/

Blog author image

Michelle Cantrell

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

Latest Blog Posts

Are Interest Rates Expected to Rise Over the Next Year?

So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this

Read More

Turning A House Into A Happy Home

Turning a House into a Happy HomeWe talk a lot about why it makes financial sense to buy a home, but more often than not, we’re drawn to the emotional reasons for homeownership.No

Read More

Steps To Make Your Home Eligible For An FHA Loan

Steps to Make Your Home Eligible For An FHA LoanSeller February 27, 2020Buyers with good credit can purchase homes with a relatively small down payment, lower monthly mortgage, and low-interest

Read More

3 Wonderful Reasons Why The Holidays Are A Good Time To Sell Your House

3 Wonderful Reasons Why The Holidays Are A Good Time To Sell Your HouseSeller December 08, 2020Should you sell your home during the holidays? It may not be the ideal time, but with the

Read More