If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate seller’s market.
The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a two month supply at the current sales pace.
Historically, a six month supply is necessary for a ‘normal’ market in which there are enough homes available for active buyers.
When the supply of houses for sale is as low as it is right now, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.
As this happens, sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.
Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.
Write me today at rachel.frentsos@longandfoster.com for a free evaluation of your home.
