Why Right Now May Be the Time to Sell Your House

Dated: January 18 2021

Views: 28

Why Right Now May Be the Time to Sell Your House | MyKCM

Source: Keeping Current Matters

The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows.

According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is incredibly strong. That’s not the case, however, on the supply side. Seller traffic is simply not keeping up. Here’s a breakdown by state:Why Right Now May Be the Time to Sell Your House | MyKCMAs the maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is creating a mismatch between supply and demand.

NAR also just reported that the actual number of homes currently for sale stands at 1.28 million, down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with 2.3 months supply available at the current sales pace. In a normal market, that number would be 6.0 months of inventory – significantly higher than it is today.

What does this mean for buyers and sellers?

Buyers need to remain patient in the search process. At the same time, they must be ready to act immediately once they find the right home since bidding wars are more common when so few houses are available for sale.

Sellers may not want to wait until spring to put their houses on the market, though. With such high buyer demand and such a low supply, now is the perfect time to sell a house on optimal terms.

Bottom Line

The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.

Latest Blog Posts

Why Right Now May Be the Time to Sell Your House

Source: Keeping Current MattersThe housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a

Read More

3 Must-Do’s When Selling Your House This Year

It’s exciting to put a house on the market and to think about making new memories in new spaces. However, despite the anticipation of what’s to come, we can still have deep sentimental

Read More

Holiday Décor For Less

The holiday season is here. Decorating magazines and store fronts are filled with beautiful wreaths, themed pillows and festive decorations, but this can be expensive. Decking the halls doesn&rsquo

Read More

Selling During The Holidays!

The Holiday Season has arrived and many home sellers are concerned it’s the wrong time to list their homes. The truth is that the holidays can be a great time to sell your home. Not only does

Read More