Blog Layout

Thinking of Selling? Now May Be the Time.

The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019, according to Freddie Mac, was 3.94%. Today that rate is closer to 3.5%.


The Census Bureau also just reported the highest homeownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives.


According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is strong. That’s not the case, however, with seller demand, which remains weak throughout most of the nation. Here’s a breakdown by state:


Demand for housing is high, but supply is extremely low. NAR also just reported that the actual number of homes currently for sale stands at 1.42 million, which is one of the lowest totals in almost three decades. Additionally, the ratio of homes for sale to the number purchased currently stands at 3.1 months of inventory. In a normal market, that number would be nearly double that at 6.0 months of inventory.


What does this mean for buyers and sellers?

Buyers need to remain patient in the search process. At the same time, buyers must be ready to act immediately once they find the right home.


Sellers may not want to wait until spring to put their houses on the market. With demand so high and supply so low, now is the perfect time to sell your house for the greatest dollar value and the least hassle.


Bottom Line

The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.


If you are thinking of selling your home, the first step is to find out how much your home is worth.


As a trusted, local real estate professional, I can help you determine an accurate valuation of your home.


This is a no-obligation, FREE service. Call me today, or click the link below to request your home valuation today!


📲https://1wrbx.ihouseelite.com/free-market-analysis


Michael Perry | Heritage REI
(925) 209-0658⁣
Ca DRE # 01790016


25 May, 2021
Late spring has traditionally been the best time to sell your house, but summer’s a good time too. School’s out, the weather is nice, and buyers are out and looking. There are also some very good market and economic reasons why summer is a good time to sell. Let’s focus on the top 4 reasons why you should sell your house in Brentwood CA this summer.
17 May, 2021
Out of all of the aspects of homeownership, building equity in your home is one of the most important and least understood. Let’s look into the details and gain a better understanding of what we’re talking about by asking what home equity is and how it impacts home buyers and sellers.
05 Apr, 2021
The year 2020 brought a lot of uncertainty to real estate markets around the world. With restrictions starting to ease and consumer confidence and excitement on a sharp rise, here are 4 reasons to not hesitate when buying a house in 2021.
More Posts
Share by: