Wondering If You Should Sell? Here Are Six Reasons to List Now

It is in the seller’s best interest to make it easy for buyers to make an offer.

“Given the pandemic and uncertainty it’s caused, the general sentiment [among some owners] is that now is not a good time to sell your home,” according to Danielle Hale, chief economist at realtor.com in a recent article published there.  “Yet so far, the data suggest the opposite—that buyers outnumber sellers in the housing market, which means it’s better to be a seller than a buyer.”

Check out these six reasons that suggest the perfect opportunity to list your home for sale is right now:

·        Pent up buyer demand exists as many consumers feel more comfortable shopping with loosening COVID restrictions.  Smaller cities and suburban areas show greatest demand as many home buyers can work remotely and seek lower housing expenses.

·        Inventory of homes for sale is low.  Statistics show that housing inventory is at “a generational low” as consumers choose to remain in their homes for greater lengths of time.  Also, due to government stimulus and mortgage forbearance programs, fewer distressed properties have lessened the number of homes for sale.

·        Prices are up—good news for sellers who can often get top dollar for their homes.  The median price of single family homes is up 7.7% from Q1 2020, to $274,600.

·        Interest rates remain low, a great incentive for buyers who could save thousands of dollars over the life of the loan.

·        The economy shows signs of a slow recovery as businesses continue to hire and consumers continue to spend.

·        Home buyers seek new things in their homes.  Remote work demonstrated to many homeowners that their current residences lack certain amenities—perhaps an office space or bigger yard—and they are ready to move up. 

Realtor.com further suggests that even as COVID restrictions loosen and consumers feel more comfortable, it is in the seller’s best interest to make “it as easy as possible for a buyer to make an offer.” 

Social distancing is still the rule, and it may take longer to schedule inspections and make repairs.  Some sellers choose to conduct pre-inspections and share their findings with prospective buyers to move the process along.

What advantages might you find in listing your home for sale during these unique market conditions?

Post authored by Lora Bray.

Check out our reviews on Google.

You can find us here on Google.