If you thought even casually selling your house in the near future, this is the time to really think seriously about moving. This is why this season is the best vendor market and the best time to make sure your house is available for buyers looking for affordable homes.
The newest Existing Home Sales Report of The National Association of Agents of Agents (NAR) shows that the inventory of houses for sale is still surprisingly low, sitting at only 2-month supply at the current sales rate.
Historically a 6-month supply is needed for a “normal” or “neutral” market in which there are enough homes available for active buyers (See graph below):When home sales for sale are as low as they are now, it is much more difficult for buyers to find affordable homes. As a result, competition between buyers is growing and more bidding wars are taking place, making it essential so that buyers submit very attractive offers.
When this happens, house prices rise and vendors is in the best position to negotiate agreements that meet its ideal conditions. If so you will put your house on the market few homes can be bought, it will probably get a lot of attention from hopeful buyers.
Today there are many buyers ready, ready and able to buy a home. Low mortgage rates and a year full of unique changes encouraged buyers to think differently about where they live – and they take action. The supply of homes for sale does not match this high demand, so now is the best time to sell your house.
Home prices are thanking in today’s retail market. Making your home available over the next few weeks will give you the greatest exposure to buyers who will actively compete against each other to buy it.
Content previously posted in Keep Current Things