If you are wondering whether you should put your home on the market this holiday season, here is your opportunity to make an advantageous move! This is an optimal time for sellers to list their home and make it available to a surplus of prospective buyers. The sellers market is producing astonishing numbers, making this an exciting time to sell your home.
Total housing inventory for sale is currently at an all time low with a 2.5 month supply, given the current sales pace. The NAR even reports that, “More than 7 in 10 homes sold in October 2020 – 72% – were on the market for less than a month.” Existing home trends are continuing to increase well into 2021.
With such low housing supply, the market is more competitive than ever before. There is extremely heavy competition and demand in the buyers market. Prices are continuing to rise giving sellers an ideal position to negotiate the deal that works best for them. There are also record low mortgage rates enticing buyers even more. According to the Mortgage Market Survey Archive by Freddie Mac, the current interest rates are a full percentage point less than year ago at this same time.
With so much shopping this season, it is essential for buyers to find the right gift. Homebuyers have been especially active this winter and buying a dream home can be the best gift of the year. With home prices appreciating, selling your home now has the potential to grant you the most exposure to buyers that are competing for it. Choosing to sell this holiday season has the opportunity for your home to rise to the top of any holiday buyers wish list.
