Are you thinking about selling your home? If you have been waiting for the right moment, now is the time to sell your house. HousingWire shares:”. . . The big question is whether inventory is beginning to increase in spring. Active listings have fallen to a new low for 2023, which is a no-brainer. . The National Association of Realtors (NAR), confirms that today’s housing stock is low. This can be seen by looking at the months supply of homes on the marketplace. A six-month supply of homes is required in a balanced market. Any lower than that is a sellers market. Today, the inventory is much lower. “Total housing inventory at the end February was 980,000 units. This is identical to January and up 15.3% over one year ago (850,000). At the current sales pace, there is a 2.6 month supply of unsold inventory. This is down 10.3% from January, but up from 1.7 in February 2022. This means that buyers will pay more attention to your house this spring when they are looking for homes. You could get more than one offer for your house, as there are more buyers than homes on the market. Multiple offers are increasing (see graph below). If you receive more than one offer for your house, it becomes an open bidding war between buyers. This gives you greater leverage to sell your house on your terms. Your expert real estate advisor is a great resource if you want the best chance of a bidding war. Although we are still in a strong seller’s market, it isn’t the frenzy of a few years ago. Today’s buyers are focusing on houses with the highest appeal. Clare Trapasso, Executive News Editor at Realtor.com, explains:”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. This spring, it is especially important for sellers that their homes are as appealing as possible to attract as many buyers as possible. To ensure your house is ready for sale, contact a local realty professional today.
Members: Sign in now and create your Personalized Posts. Start sharing today!
Are you not yet a member? Click Here to learn about KCM’s latest feature, Personalized posts.