Fannie Mae polled consumers and 57% indicated that now is a good time to buy a home, and 59% feel it’s a good time to sell a home. So, despite everything going on in the world, the consensus is that it’s a good time to sell a home.
Why is it a good time to sell?
There’s not enough supply to meet buyer demand and homes are selling just as quickly as they’re coming on the market. So few homes available for buyers to choose from means we are in a true seller’s market. Homeowners that are ready to make a move have the opportunity to negotiate the best possible contract on the sale of their home due to intense competition among buyers. However, this sweet spot for sellers won’t last forever and as more homes come on the market, the tip towards a seller’s market will shift. Find out the value of your home with our Instant Home Valuation.
According to Danielle Hale, Chief Economist at Realtor.com buyers will have more choices in the not-so-distant future. “The bright spot for buyers is that more homes are likely to become available in the last six months of 2021. That should give folks more options to choose from and take away some of their urgency. With a larger selection, buyers may not be forced to make a decision in mere hours and will have more time to make up their minds.”
The Bottom Line
If you’re ready to make a move, you should feel good about the current market and take advantage of the conditions that are favorable to sellers. Remember hindsight is 2020 and this too shall pass…the market we’re in will not last forever so if you’re serious about selling your home, now is a good time to sell.