On Your Market: Rise to top of pool by selling now
On Your Market
With the release of the latest Economic Pulse Flash Survey from the National Association of Realtors (NAR), results show that people selling their houses today are holding strong on price. According to the most recent data, 74% of real estate agents noted that sellers are not dropping listing prices to attract more buyers.
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:
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“With the current quarantine recommendations in place, fewer sellers are listing homes, which will limit buyer choices.”
So, with buyer choices of inventory already limited going into this spring sale season, and sellers choosing to “Wait and See”, 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, so keeping your home listed for sale — or jumping into the market — could work to your advantage as the season unfolds.
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.
With buyer choices being limited in many of our local neighborhoods, selling now may help your home rise to the top of the pool and an offer to purchase could be just days away. Call your local real estate professional so that you have an expert helping you succeed in the selling process.
Mark Smith is the Broker and Owner of RE/MAX Mountain with offices located in Truckee and Graeagle. Mark can be reached at: firstname.lastname@example.org.
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