5 Reasons to Sell this Summer

Five great reasons to Sell your Home this Summer!

1. Homes are selling quickly!

According to the most recent Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly. The report notes homes are selling in an average of just 17 days.

Average days on market is a strong indicator of buyer competition, and homes selling quickly is a great sign for sellers. It’s one of several factors that indicate buyers are motivated to do what it takes to purchase the home of their dreams.

2. Buyers are competing for quality homes and they could for yours as well!

In addition to selling fast, homes are receiving multiple offers. NAR reports sellers are seeing an average of 5 offers, and these offers are competitive ones. Shawn Telford, Chief Appraiser at CoreLogic, stated in a recent interview:

“The frequency of buyers being willing to pay more than the market data supports is increasing.”

Thus, buyers are ready and willing to enter bidding wars for your home. Receiving several offers on your house means you can select the one that makes the most sense for your situation and financial well-being.

3. When the Supply Is Low, Your House gets extra Attention!.

One of the most significant challenges for motivated buyers is the current inventory of homes for sale, which while improving, remains at near-record lows. NAR writes:

“Total housing inventory at the end of May amounted to 1.23 million units, up 7.0% from April’s inventory and down 20.6% from one year ago (1.55 million). Unsold inventory sits at a 2.5 month supply at the present sales pace, marginally up from April’s 2.4 month supply but down from 4.6 months in May 2020.”

4 . If You’re Thinking of Upgrading... Now Is a Excellent Time!

Over the past 12 months, homeowners have gained a significant amount of wealth by growing equity. And, perhaps after spending o much time there are ready to move on.

If you are not happy with your home, consider leveraging that equity to power your move. Your equity, plus current low mortgage rates, can help you maximize purchasing power.

As interest rates rise slightly it could influence buyer demand and your purchasing power. If you’ve been waiting for the right to sell, you likely won’t find a more favorable time than what we are seeing today.

5. Prefect Conditions!

With supply challenges, low mortgage rates, and extremely motivated buyers, sellers are well-positioned to take advantage of current market conditions right now. 

Keeping Current Matters

Realtors Confidence Index

NAR