Why Right Now May Be the Time to Sell Your House

By
Real Estate Agent with Donahue Real Estate Co.

Why Right Now May Be the Time to Sell Your House

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

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.

Posted by

Joseph D.  Federico, Donahue Real Estate Co. Dedham, MA - Serving my clients in Dedham, Westwood, Norwood, Canton, Milton, Sharon, Walpole, Jamaica Plain, Roslindale, West Roxbury, and West Bridgewater.

Joseph D. Federico

Donahue Real Estate Co. 

15 Bryant St., Dedham MA

"Neighbors Helping Neighbors"

www.Joefed.com

joe@donahuere.com

 

 

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
Massachusetts
Groups:
Marketing 101
Massachusetts
The Art Of Marketing You
Tags:
realestate homeownership homebuying realestategoals joefed

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?