So you've decided to sell your house. You've hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential.
SELLERS | Want an Easy Way to Get Top Dollar for Your House? List It!
Dated: February 24 2022
You usually want to sell anything for the most significant profit possible when selling it. That happens when there's a strong demand and a limited supply for that item. In the real estate market, that time is now. If you're thinking of selling your house this year, here are two reasons why now is the time to list.
1. Demand Is Very Strong
A recent article in Inman News explains:
"Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists... 'Home shopping season appears to already be in full swing!"'
And they aren't the only ones saying buyers are already out in full force. Data released by ShowingTime supports this claim. The ShowingTime Showing Index tracks the average number of monthly buyer showings on active residential properties, a highly reliable leading indicator of current and future trends for buyer demand. The latest index reveals this past December was the most active in five years (see the graph below):
As the data indicates, buyers are very active this winter. Last December saw even more showings than December 2020, which was already a stronger-than-usual winter. And remember - you want to sell something where there's a strong demand for that item. That time is now.
2. Housing Supply Is Extremely Low
Each month, realtor.com releases data on the number of active residential real estate listings (listings currently for sale). Their most recent report reveals the latest monthly number is the lowest we've seen in any January since 2017 (see graph below):
And don't forget, the best time to sell an item is when there's a limited supply of it available. This graph clearly shows how meager housing inventory is today.
Even Though Supply Is at a Historic Low; Home Sales Are at a 15-Year High
According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), existing-home sales totaled 6.12 million in 2021 - the highest annual level since 2006. This means the market is hot, and homeowners are in a great place to sell now while sales remain strong.
NAR also reports available listings by calculating the current months' supply of inventory. They explain:
"Months' supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace."
The current 1.8 months supply is the lowest ever reported. Below are the December numbers over the last five years:
The ratio of buyers to sellers favors homeowners right now to a greater degree than at any other time in history. Buyer demand is high, and supply is low. That gives sellers an incredible opportunity!
As a native of Washington DC, Wendy brings extensive knowledge of the area. She consistently shows the aptness to satisfy clients who buy a house or sell a home in the cities of Washington DC, Bowie, ....
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You usually want to sell anything for the most significant profit possible when selling it. That happens when there's a strong demand and a limited supply for that item. In the real estate market,
Please don't put it off! Now is an excellent time to list your home. Plenty of buyers are waiting for your house to hit the market.Recent data indicates that home showings are rising. This can