As we near the end of 2021, more homeowners are realizing
the benefits of today’s sellers’ market. With homes appreciation to record highs,
growing equity, low inventory, and competitive
mortgage rates have motivated homeowners to make a move to address their new
real estate needs.
Recently realtor.com showed a larger share of homeowners are
planning to list their houses this winter. So, that means more homes will hit
the market, which will lead to more choices for buyers too.
George Ratiu, Manager of Economic Research at realtor.com:
“The pandemic has delayed plans for many Americans, and
homeowners looking to move on to the next stage of life are no exception.
Recent survey data suggests the majority of prospective sellers are
actively preparing to enter the market this winter.”
If you’re thinking of waiting until the spring to sell your
house, know that your neighbors may be one step ahead of you by selling this
winter. If you want to stand out from the crowd, this holiday season is the
best time to make sure your house is available for buyers. Here’s why.
Sellers Are Still Firmly
in the Driver’s Seat
Historically a 6-month supply of homes for sale is needed
for a normal or neutral market. That level ensures there are enough homes
available for active buyers (see below):
The latest Existing Home Sales Report from the National
Association of Realtors (NAR) shows the inventory of houses for sale
sits at a 2.4-month supply nationally and 1.4-month supply for South Florida. This is well below a neutral market.
What Do the levels of inventory mean for you?
Most of you are familiar with Supply/Demand. When Supply is low / Demand is high and When Supply is high/ Demand is low. With the supply of homes for sale being as low
as it has been, it’s is harder for buyers to find homes to purchase. This
drives up competition among buyers, who then submit increasingly competitive
offers to win out against others in the home search process. As this happens,
prices rise and your leverage as a seller rises, putting you in the best
position to negotiate a contract that meets your ideal terms.
And while the low housing supply we’re facing won’t be
solved overnight, sellers this season should move quickly to maximize their
potential. As the data shows, with more prospective sellers planning to list
their homes this winter, selling sooner rather than later helps your house rise
to the top of a holiday buyer’s wish list so you can close the best
Listing your home over the next few weeks gives you the best
chance to be in front of buyers competing for homes this holiday season. If you would like to schedule a Free Home Estimate
Appointment or have any questions about the current real estate market, please contact
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