Everything you need to know about the Sellers Market
Despite a reduction in activity compared to last year's housing market, today remains a favorable opportunity for those looking to list their properties. The current low supply of homes for sale means that conditions are advantageous for sellers. Why exactly is this so? And what does it mean for those eager to put their house up for sale?
It starts with the number of homes available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers
What Does This Mean for You?
Due to the current market conditions, there is an undersupply of homes for sale. This has resulted in increased competition among buyers, as they become more desperate to purchase a home. As a result, buyers have begun to submit their best offers in order to stand out and gain an edge over other bidders; sellers then have the upper hand when it comes to negotiating deals on their terms.
Right now, there are still buyers who are ready, willing, and able to purchase a home. If you list your house right now in good condition and at the right price, it could get a lot of attention from competitive buyers.
The current seller's market is an ideal time for those looking to list their homes. Homeowners have the opportunity to connect with eager, competitive buyers by getting their properties on the market now. Maki Real Estate can guide you through the process and make sure your house gets in front of interested parties quickly and easily.
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