Last year, the health crisis affected many homeowners’ decision to sell their homes. In today’s market, homeowners are beginning to gain more confidence in the security of selling their home. The market is in excellent condition for sellers with favorable mortgage rates, appreciating home prices, and the low housing inventory. The Home Purchase Sentiment Index by Fannie Mae has even reported:
“57% of consumers believe it is a good time to sell.”
The spring season tends to be the busiest time in the housing market with many homeowners deciding to list their houses for sale. Although we are still experiencing lasting effects of the pandemic, experts believe consumers are optimistic about selling. This optimism and positivity around selling will help homeowners thinking about making a move this year.
One huge factor that is keeping consumers positive about selling, is the fact that there are so little houses available in the market today. The National Association of Realtors has stated:
“Total housing inventory is down 25.7% from one year ago.”
In such a competitive market, your home being listed for sale will be sure to generate mass interest among buyers. Sellers are in the driver’s seat this year with high buyer activity increasing home prices and encouraging multiple offer situations. Selling is enticing many homeowners with each home receiving an average of 3.7 offers. With such favorable conditions in this market, making a move could prove to show great success in the sale of your home.
Seller’s in this market have a huge advantage and are witnessing big financial gains in the process. Seller’s also have another opportunity to use the equity towards a down payment when they transition into a new home. If you are thinking about selling your home, now is the best time with inventory at an all time low. Move into the house of your dreams this spring!