The following information will help you decide if it's the right time to sell your home. You have a major edge because there aren't many houses available right now. The reason behind this is that there are more buyers than there are available homes. You should position yourself to draw the most attention to your property because there are so few houses on the market, which will limit the options available to buyers.
Here’s what industry experts are saying about why selling now has its benefits:
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR):
“Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.”
Selma Hepp, Chief Economist at CoreLogic:
“We have not seen the traditional uptick in new listings from existing homeowners, so undersupply of housing will continue to heighten market competition and put pressure on prices in most regions. Some markets are already heating up considerably, but price premiums that we saw last spring and summer are unlikely.”
Clare Trapasso, Executive News Editor at Realtor.com:
“Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country . . .”
Jeff Tucker, Senior Economist at Zillow:
“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”
Bottom Line
Let's connect if you're considering selling your home so you get the professional advice you need to make a move right away.