May 25, 2023 For Sellers Housing Market Updates
If you’re trying to decide if now’s the time to sell your house, here’s what you should know. The limited number of homes available right now gives you a big advantage. That’s because there are more buyersout there than there are homes for sale. And, with so few homes on the market, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house.
Here’s what industry experts are saying about why selling now has its benefits:
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR):
“Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.”
Selma Hepp, Chief Economist at CoreLogic: “We have not seen the traditional uptick in new listings from existing homeowners, so undersupply of housing will continue to heighten market competition and put pressure on prices in most regions. Some markets are already heating up considerably, but price premiums that we saw last spring and summer are unlikely.”
Clare Trapasso, Executive News Editor at Realtor.com: “Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country . . .”
Jeff Tucker, Senior Economist at Zillow: “. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”
Bottom Line If you’re thinking about selling your house, let’s connect. I will give you the expert insights you need to make the best possible move today.