The ongoing shortage of homes on the market has created an even more competitive environment for buyers, making this the ultimate seller’s market. Given the current state of the real estate market, one of the most frequently asked questions is, “When will sellers return to the market?” With the economy continuing to improve and more people getting vaccinated, we are slowly recovering from the challenges of the last year. We are now hopeful as we progress, that more sellers may finally be in our grasp.
Fannie Mae just released the Home Purchase Sentiment Index (HPSI) which showed an increase in the amount of consumers who say that it is now a good time to sell a home. Consumers are feeling much more positive about home-selling conditions with respondents increasing from 61% to 67%, regarding how it is a more favorable time to purchase a home. Realtor.com also released a survey showing that 1 out of 10 homeowners are planning to sell this year, with a shocking 63% of those looking to list in the next 6 months!
If you are interested in selling your home this summer, here are some great reasons to enter the market!
- Buyers are extremely active in the market, which is encouraging strong competition and demand for houses.
- The imbalance between high buyer demand and a low supply of houses for sale is giving sellers a large advantage. A seller will always negotiate the best deal when demand is high and supply is low.
- When sellers have the upper hand in negotiations, they have the opportunity to use the leverage to negotiate the best possible contract.
- Sellers also have the ability to grow their equity as home values continue to appreciate.
- So much has changed over the past year, including what many of us need in a home, it is now common to look for features suited to working remotely or space for virtual schooling. Seller’s will now have the chance to find a home that will meet their needs.
Now is the time to sell, take advantage of the spectacular seller’s market! Connect with us today to explore the advantages of selling your home before more sellers enter the market.