As we near the end of the year, more and more homeowners are realizing the benefits of today’s seller market. Record home prices, rising equity, low inventory, and competitive mortgage rates are prompting homeowners to take action to accommodate their changing lifestyles.
In fact, recent data from realtor.com shows a greater proportion of homeowners plan to list their homes this winter. So that means more homes coming to market, which will also give buyers more choice.
According to George Ratiu, director of economic research at realtor.com:
“The pandemic has delayed many Americans’ plans, and neither has homeowners looking to take the next step in their lives. Exception. Recent survey data shows that the majority of potential sellers are actively preparing to enter the market this winter.
If you’re thinking of waiting until spring to sell your home, know that your neighbors could be one step ahead of you by selling this winter. If you want to stand out from the crowd, this holiday season is the best time to make sure your home is available to buyers. Here’s why. salesmen still firmly in the driver’s seat Historically, a 6-month supply of homes for sale has been needed for a normal or neutral market. This level guarantees enough housing for active buyers
What does this mean for you? When the supply of homes for sale is as low as it is today, it becomes much more difficult to find a home for a buyer. This increases competition among buyers, who then submit increasingly competitive offers to prevail over others in the home search process. When this happens, prices increase, and your leverage as a seller increases as well, putting you in the best position to negotiate a contract that meets your ideal terms.
And while the low housing supply we face won’t be resolved overnight, this season’s sellers should act quickly to maximize their potential. As data shows, with more and more potential sellers planning to list their home this winter, selling as soon as possible will help get your home on the holiday buyer’s wish list for You can get the best deal possible.
Final Result Selling your home in the next few weeks gives you the best chance to stay ahead of competing buyers while the number of homes for sale remains low. Contact a local real estate advisor today to discuss how you can take advantage of today’s seller’s market.
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