Many homeowners are trying to decide whether or not to sell their home in today’s market. You may be one of those homeowners. This is because you are trying to balance the current health crisis, rising mortgage rates and changing needs. It’s possible that you are trying to decide when it’s best to sell your house. Recent data suggests that the time is now.
It is clear that consumers today are extremely optimistic based on the data from the past years. Below is the graph showing the percentage of respondents to a survey who believe it’s a good moment to sell a home. This graph shows that their optimistic outlook is increasing. The large dip in the middle of this chart shows how consumers’ attitudes about selling declined during the pandemic. This is because of increased uncertainty over the impact of the health crisis on the economy. The good news is that the trend today shows a steady, dramatic improvement and people feel more confident about selling a house.
Survey respondents believe it’s a better time to sell your house now than in the days leading up to the crisis. According to the latest survey results, we are at the highest point in seller sentiment since March 2019, when 77% of respondents thought it was a good idea to sell a house. This is compared to June and October 2021, which were highs of 77%.
Homeowners have greater motivation to sell, with record-high equity returns, record-low housing supply, and significant buyer desire. Today’s market is flooded with buyers, which makes it an ideal time to sell.
According to the National Association of Realtors, the current supply of homes for purchase is at an unprecedented 1.8-month supply. Sellers will see more offers if there is a low supply of homes to sell. This is exactly what is happening right now. NAR points out:
It’s easy to see why consumers feel it’s a great time to sell, considering the low inventory of houses available for sale today.
If you’re ready to take advantage of today’s favorable sellers’ market, contact a Preferred Properties of Texas today.