Is 2021 the Year to Sell Your Home?

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Real Estate Agent with Keller Williams Capital Properties DC AB15253

Is This the Year to Sell Your House?

Is This the Year to Sell My House? | MyKCM

Are you wondering, “Should I sell my house this year?”   You have lots of company! Consumer sentiment about selling today should boost your confidence in the right direction and consumer demand for a new home should make you positively giddy with delight. Even with the pandemic, 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 Economistfor 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 expected to start to appear soon.

“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. We at the Lise Howe Group are actively looking for new listings to bring to market.

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Rainmaker
325,755
Brad Thomsen
Big Bear Realty - Edmonds, WA
Real Estate Services

Have a Great 2021

Happy Selling!

Jan 09, 2021 04:29 PM #1
Rainmaker
1,948,247
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Brad Thomsen - thanks for stopping by and commenting. Have a great week!

Jan 09, 2021 04:47 PM #2
Rainmaker
3,438,803
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Lise.

The only problem for me to sell, I can't find another one to purchase within my price range.  

Jan 10, 2021 12:44 AM #3
Rainmaker
3,259,456
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Are you still the Bethesda Condo Queen?  My advice would be that anyone in your area should definitely be talking to you if they are thinking about selling their home.

Jan 10, 2021 05:08 AM #4
Rainmaker
3,769,062
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Lise... I can totally answer that question! 2021 IS THE YEAR TO SELL... AND SOONER RATHER THAN LATER, if you ask me.

Jan 10, 2021 06:21 AM #5
Rainmaker
275,913
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Great information that we should all be aware of. Thank you for posting Lise Howe 

Jan 10, 2021 09:18 AM #6
Ambassador
4,204,995
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lise all the stars seem to be lining up for Sellers.  Low Inventory and High Demand = Over Listing Price in many cases.

Jan 10, 2021 03:05 PM #7
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Rainmaker
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Lise Howe

Assoc. Broker in DC, MD, VA and attorney in DC
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