Should I...??

By
Real Estate Agent with Keller Williams Realty - Topsfield, MA 92593-B

These days, The question(s) people are asking most are should I sell my house or wait? AND the other is... if I sell my house will I be able to purchase what I want?

Anyone who knows me knows that I believe any day is a good day to purchase or sell Real Estate. Your decision really depends on your situation.

What is important to accept is, Buyers and Sellers need to have a Professional Realtor® on their team to help them traverse this complicated Real Estate Market. 

The news remains the same; inventory is at record lows, interest rates are at record lows, price appreciation is higher than normal, and demand for housing is high.

Here's what some experts have to say about these questions.

Is This the Year to Sell My House?

Is This the Year to Sell My House?

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 latesHome 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.commore 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. Contact a local real estate professional today to determine the best next step when it comes to selling your house this year.

 

Thank you to KCM for compiling this information

 

Posted by

I pray that God our Father and the Lord Jesus Christ will be kind to you and bless you with peace

2 Thessalonians 1:2

 

Doug Dawes REALTOR®, AWREP, LMC

Broker Sales Associate

KELLER WILLIAMS REALTY - Topsfield/Newburyport

49 Main Street
Topsfield, MA 01983
 978-887-3995  ~ Office
 978-270-3037  ~ Cell
 DougDawes@KW.com

Comments (9)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Doug,  people want the crystal ball from us to give them the answer.  All I can say is never seen interest rates this low before.

 

Jan 08, 2021 08:33 AM
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I agree Will Hamm I'm sure they will move back up at some point but right now is a great time to get a mortgage

Jan 08, 2021 08:58 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Good advice and Doug Dawes can guide you through the process safely.

Jan 08, 2021 09:13 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Doug- I agree with what you said...if and when you should sell or buy depends on your personal situation. 

Jan 08, 2021 07:35 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

With the low inventory and very attractive mortgage interest rates, it is definitely a good time to sell a home.

Jan 16, 2021 09:16 AM
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Nick Vandekar, 610-203-4543 Glad you agree with it...lol

Jan 22, 2021 09:11 AM
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Situational Real Estate is what it is Kathy Streib and Realtors® are there for every situation

Jan 22, 2021 09:12 AM
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Roy Kelley you bet it is a Great time for Real Estate

Jan 22, 2021 09:13 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Doug Dawes - I really enjoyed reading your post today! You raise good questions for buyers to think about. May 2021 be a great year for sales for you, your buyers and sellers too!

Jan 24, 2021 10:12 PM

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