If you have thought or even briefly thought about selling your
house. This is the time to really think about
it. We are in the ultimate Sellers’
Market and this is the optimal time to put your place on the market for
buyers who are looking for homes to purchase.
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.
For a normal or neutral market, a 6-month supply is necessary where there are enough homes available for active buyers (See graph below):
When the supply is so low or depleted as it is
right now, it is much harder for buyers to find homes to buy. Because buyers or competing for the little
inventory, it is driving prices up (Supply and Demand). Which in turn you will see buyers submitting
very attractive offers
As this happens, home prices go up and the
seller have the upper hand in negotiating deals that is ideal to their terms.
If you put your house on the market while there are few homes available to
buy, it will more than likely get a lot of attention from hopeful buyers.
There are buyers ready, willing, and able to
purchase a home. With Low mortgage rate and a year filled with unique changes in work
and home life. Have prompted buyers to
think differently about where they live – and they are taking action. The
supply of homes for sale is not keeping up with the high demand, making now the
optimal time to sell your house.
Take away
Home prices are rising 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.
