If you want top dollar for your home, now is the time to sell. We all know the saying — buy low, sell high. Whenever you sell something, you always want to make a profit. If you’re thinking of selling your home this year, here are two reasons why now’s the time to sell.
Housing Demand Is Strong
A recent article in Inman News stated that the home shopping season appears to already be in full swing! According to the latest Home Purchase Sentiment Index (HPSI) by Fannie Mae, 76% of homeowners believe now is the time to sell.
Last December saw even more showings than December of 2020, which was already a stronger-than-usual winter. You want to sell something when there’s a strong demand, and that time is now.
Today, the trend shows a continued improvement, and people are feeling more confident about selling a home. In fact, homeowners who responded to a survey think it’s an even better time to sell a house today than they did during the pandemic. The latest survey results indicate we’re at one of the strongest seller peaks since March of 2019, hitting highs when 77% of people thought it was a good time to sell only twice before in June and October of 2021.
Housing Supply Is Very Low
Each month, realtor.com releases data on the number of active residential real estate listings. The recent report reveals the latest monthly number is the lowest we’ve seen in any January since 2017. And don’t forget, the best time to sell an item is when there’s a limited supply available. This graph clearly shows how extremely low the housing supply is today.
Home Sales are at a 15-Year High
According to the latest Existing Home Sales Report from the National Association of Realtors, home sales totaled 6.12 million in 2021. That is the highest annual level since 2006. This means the market is hot and homeowners are in a great place to sell now while sales are so strong.
The National Association of Realtors also reported the available listings by calculating the current months’ supply of inventory. They said that the current 1.8-months supply is the lowest ever reported. The 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 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 like you an incredible opportunity.
When you need an experienced and local real estate agent, contact Wenzel Selection Properties in Downers Grove at (630) 430-4790.