If you're contemplating whether or not it's the right time to sell your house, it's crucial to be informed. Currently, the housing market is experiencing a scarcity of available homes, and this presents a significant advantage for sellers. With more buyers seeking properties than there are homes for sale, you position yourself to attract a larger pool of potential buyers due to the limited options on the market.
Industry experts have shared their insights on why selling now can be beneficial. Let's take a look at what they have to say:
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), points out, "Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties."
Selma Hepp, Chief Economist at CoreLogic, highlights that "We have not observed the usual increase in new listings from current homeowners, resulting in a continued undersupply of housing. This will further intensify market competition and put pressure on prices in most regions. While certain markets are already heating up significantly, it is unlikely that we will see the same price premiums as last spring and summer."
Clare Trapasso, Executive News Editor at Realtor.com, states, "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, emphasizes that "...sellers who price and market their home competitively shouldn't encounter difficulties finding a buyer."
In summary, if you're considering selling your house, it is advisable to seek guidance from a real estate advisor who can provide you with expert insights. Armed with the right knowledge, you can make the best possible move in today's market.
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