Is Selling Now the Right Time?

The National Association of Realtors recently released a survey of home sellers which reflected a reason for optimism for those considering selling their homes. The survey, which reached out to real estate agents around the country found 74% of them agreed that their sellers were not dropping their listing prices to attract more buyers. That should be taken as a positive sign for those considering entering the market.

Lawrence Yun, Chief Economist at NAR, noted:

“The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy.”

This inventory shortage, which spread widely throughout the housing market going into today’s economic slowdown, created an environment where there were not enough homes for sale for those who wanted to buy them. With that backdrop setting the stage, Yun also notes:

“With the current quarantine recommendations in place, fewer sellers are listing homes, which will limit buyer choices.”

So, with buyer choices already limited going into this season, and more sellers removing listings today, if you’ve been thinking about listing your house, it’s a great time to do so. Many others in your neighborhood may be waiting to make a move or removing their listings, so staying on the market – or jumping into it – could work to your advantage.

Buyers today are serious ones, and with prices holding steady in this low-inventory market, you can feel confident about selling today. Embracing the process virtually, where available, could help your house hit the top of an eager buyer’s list. While your neighbors miss out on this opportunistic time, you don’t have to.

Considering Listing?  Check out "5 Things To Do Before Listing" 

If buyer choices are limited in your neighborhood, selling now may help your listing rise to the top of the pool. Let’s connect today to make sure you have the expert help you need to succeed in the selling process. Click here to get a free home valuation.