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Is This the Year to Sell My House?

Is This the Year to Sell My House? | Simplifying The Market

If one of the questions you’re asking yourself is, “Should I sell my house this year?” consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why.

According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now is a good time to buy a home, while 59% feel it’s a good time to sell one:

“The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.”

As you can see, many still believe that, despite everything going on in the world, it is still a good time to sell a house.

Why is now a good time to sell?

There simply are not enough homes available to meet today’s buyer demand, and they’re selling just as quickly as they’re coming to the market. According to the National Association of Realtors (NAR), unsold inventory available today sits at a 2.3-month supply at the current sales pace, which is down from a 2.5-month supply from the previous month. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory to balance out.

With so few homes available for buyers to choose from, we’re in a true sellers’ market. Homeowners ready to make a move right now have the opportunity to negotiate the best possible contracts with buyers who are feeling the pull of intense competition when it comes to finding their dream home. Lawrence Yun, Chief Economist for NAR, notes how quickly homes are selling right now, further confirming the benefits to sellers this season:

“The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates.”

However, this sweet spot for sellers won’t last forever. As more homes are listed this year, this tip toward sellers may start to wane. According to Danielle Hale, Chief Economist at realtor.com, more choices for buyers are on the not-too-distant horizon:

“The bright spot for buyers is that more homes are likely to become available in the last six months of 2021. That should give folks more options to choose from and take away some of their urgency. With a larger selection, buyers may not be forced to make a decision in mere hours and will have more time to make up their minds.”

Bottom Line

If you’re ready to make a move, you can feel good about the current sentiment in the market and the advantageous conditions for today’s sellers. Let’s connect today to determine the best next step when it comes to selling your house this year.


Source: KMC

Posted in: For Sellers, Housing Market Updates, Move-Up Buyers, Selling Myths Tagged: Real Estate

© Margo Borkin Real Estate 2010

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Margo Borkin Real Estate

21 hours ago

Margo Borkin Real Estate

You've got questions. I've got answers -- a match made in heaven, I think! ⁣
⁣
For the next few Fridays, I’ll share answers to some of YOUR most common real estate questions — a “Frequently Asked Fridays” of sorts! ⁣
⁣
First up? A question I often get from homebuyers: ⁣
⁣
Q: Are kitchen appliances included in the sale of a home? ⁣
⁣
A; As a general rule, if an item is built-in or attached to the home (think bookshelves, window treatments, light fixtures, etc.), it's included in the sale of the home. Kitchen appliances typically fall under this “rule” unless otherwise specified by the sellers. Ask your realtor for a copy of the seller’s disclosure so you can make note of any items that don’t convey. ⁣
⁣
Looking to buy (or sell) and need a realtor? I’d love to chat! Send me a message and let’s connect.⁣
... See MoreSee Less

Youve got questions. Ive got answers -- a match made in heaven, I think! ⁣
⁣
For the next few Fridays, I’ll share answers to some of YOUR most common real estate questions — a “Frequently Asked Fridays” of sorts! ⁣
⁣
First up? A question I often get from homebuyers: ⁣
⁣
Q: Are kitchen appliances included in the sale of a home? ⁣
⁣
A; As a general rule, if an item is built-in or attached to the home (think bookshelves, window treatments, light fixtures, etc.), its included in the sale of the home. Kitchen appliances typically fall under this “rule” unless otherwise specified by the sellers. Ask your realtor for a copy of the seller’s disclosure so you can make note of any items that don’t convey. ⁣
⁣
Looking to buy (or sell) and need a realtor? I’d love to chat! Send me a message and let’s connect.⁣
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Margo Borkin Real Estate

2 days ago

Margo Borkin Real Estate

Now available in #westbloomfield
Check it out: mbre.info/6265
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Now available in #WestBloomfield
Check it out: https://mbre.info/6265
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Margo Borkin Real Estate

2 days ago

Margo Borkin Real Estate

Are January and February good months to sell? Yes! Yes! A 1000x YES! Here’s why:⁣
⁣
1. You’ll face less competition.⁣
2. You’ll get lots of attention from buyers’ agents.⁣
3. With rock-bottom interest rates, buyers are ready to purchase.⁣
4. Your home is still shining after the holiday rush.⁣
5. You’ll enjoy a quick closing.⁣
⁣
Online searches for “buying a home” peak in January and February so if you’re thinking of selling, try to get in front of the action. Need a realtor who knows our area to help? Send me a message -- I can't wait to hear from you!
... See MoreSee Less

Are January and February good months to sell? Yes! Yes! A 1000x YES! Here’s why:⁣
⁣
1. You’ll face less competition.⁣
2. You’ll get lots of attention from buyers’ agents.⁣
3. With rock-bottom interest rates, buyers are ready to purchase.⁣
4. Your home is still shining after the holiday rush.⁣
5. You’ll enjoy a quick closing.⁣
⁣
Online searches for “buying a home” peak in January and February so if you’re thinking of selling, try to get in front of the action. Need a realtor who knows our area to help? Send me a message -- I cant wait to hear from you!
View on Facebook
·Share

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