The housing market’s biggest problem is the small number of available homes. Even less if compared to the number of potential buyers. Because of this, now is an ideal time to sell your house if you’re considering doing so. Here are the explanations to help you understand.
A recent report from Realtor.com found that active inventory was, on average, 50.6% lower in June. That is lower in the pre-pandemic period of 2017–2019. As a result, there are currently still fewer homes available for purchase than there were a few years ago.
If public opinion is any indication, it might still be a good time to sell. According to Fannie Mae’s most recent Home Purchase Sentiment Index, more than 60% of respondents believe that now is a good time to sell.
What You Should Know
This is a great time to sell your home if you’re planning to do so due to the low inventory. Today’s buyers have fewer options than they did before. And this is continuing to affect some important housing market statistics. Here’s what the recent Confidence Index from the National Association of Realtors (NAR) says:
- A small increase to 74% is evident in the percentage of homes that sold in under a month.
- Homes are still selling quickly when priced correctly. This is evidenced by the decrease in the median days on the market to 18 days.
- The typical number of bids on recently sold homes increased to 3.3 bids.
The Bottom Line
In conclusion, it is still a good time to sell right now. Furthermore, the supply of homes is still historically low. As a result, it might be best for you to take advantage of the state of the housing market if you intend to sell your house. However, working with a real estate expert is an ideal way to understand the housing market, regardless of the circumstances in your area. You’ll want to have an advantage over the competition regardless of how strong or weak the market is. Your nearby expert has the knowledge and abilities required to guarantee that you do.
What To Do:
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