On the Fence of Whether or Not to Move This Spring?
Consider this if you are thinking of selling your house. Because you’ve heard prices are rising, listings are going fast, and seller’s are getting multiple offers on their homes is it time? Why are conditions so good for sellers today? And, what can you expect when you move? To answer both of those questions, let’s turn to the data.
Today, there are far more buyers looking for homes than sellers listing their houses. Here are the maps of the latest buyer and seller traffic from the National Association of Realtors to help paint the picture of what this looks like.
Notice how much darker the blues are on the left. This shows buyer traffic is strong today. In contrast, the much lighter blues on the right indicate weak or very weak seller traffic. The demand for homes is significantly greater than what’s available to purchase.
What That Means for You
You have an incredible advantage when you sell your house under these conditions. Since buyer demand is so high at a time when seller traffic is so low, there’s a good chance buyers will be competing for your house.
According to NAR, in February, the average home sold got 4.8 offers. When buyers have to compete with one another like this, they’ll do everything they can t make their offer stand out. This could play to your favor and mean you’ll see things like waived contingencies, offers over asking price and more. Selling when demand is high and supply is low sets you up for a big win!
If you’re looking to buy a house, you may be tempted to focus more on just the seller traffic map and wonder if it means you’ll have trouble finding your next home. But remember this: perspective is key.
If you look at the big picture, the opportunity you have as a seller today is unprecedented. Last year was a hot seller’s market. This year, inventory is even lower, and that means an even bigger opportunity for you. Even though finding your next home in a market with low inventory can be challenging, is that concern worth passing on some of the best conditions seller’s have ever seen?
As added peace of mind, remember I have been juggling this imbalance of supply and demand for nearly two years, and I know how to help both buyers and sellers find success when they move. I can help you capitalize on the great opportunity you have as a seller today and guide you through the buying process until you find the perfect place to call your home.
Bottom Line
If you’re ready to move, you have an incredible opportunity in front of you today. Let’s get together to discuss your priorities.