Sell Your Home Right Now, Don’t Wait To Be Behind The Pack! Here's What To Do In 2022.
Sell Your Home Right Now, Don’t Wait To Be Behind The Pack! Here’s What To Do In 2022.
2021 has been a year like no other for homeowners. Homeowners are realizing the benefits of today’s sellers’ market. Record-breaking home price appreciation, growing equity, competitive mortgage rates, and low inventory, are motivating homeowners to make a move that addresses their life-style change due to Covid-19 and a need for space or possibly downsizing for retirement or empty nests.
Waiting for the spring buying market might not be a wise decision. New research indicates that homeowners who are thinking about selling are about to put their homes on the market this winter. Waiting could leave you in the dust when the buyers are already eager to buy due to the increase in inventory and threat of higher interest rates from the Federal Reserve.
In a report from his recent research, George Ratiu, Manager of Economic Research for realtor.com, said: Low Temps, High Expectations: Realtor.com® Survey Shows 65% of Prospective Sellers Plan to Enter the Market this Winter – Nov 11, 2021 (view report on move.com)
Joe Jennings, Broker for Sunny & Associates Realty said:
“The pandemic has delayed plans for many Americans, and homeowners who have been looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter.” I believe it will continue to be a Seller’s market in 2022.
Joe Jennings refers to the latest Existing Home Sales Report from the National Association of Realtors (NAR). It shows the inventory of houses for sale sits at a 2.4-month supply. This is well below a neutral market of 6 month’s supply.
What Does That Mean for You?The short supply of homes drives up competition among buyers, who then submit increasingly competitive offers. As this happens, prices rise and your leverage as a seller rises too, putting you and your Realtor in the best position to negotiate a contract that meets your ideal terms. And while the low housing supply we’re facing won’t be solved overnight, sellers this season should move quickly. As the data shows, with more prospective sellers planning to list their homes this winter, selling sooner rather than later helps your house rise to the top of a holiday buyer’s wish list.
Bottom LineSelling your house over the next few weeks gives you the best chance to be in front of buyers competing for homes while the number of houses for sale is still low. Connect with Joe Jennings at Sunny & Associates today to discuss how you can benefit from today’s sellers’ market.
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Real Estate Markets: Plantation, Davie, Cooper City, Pembroke Pines, Weston, Sunrise, Fort Lauderdale, Boca Raton, Port St. Lucie, Vero Beach and Tallahassee Florida.