What's The Best Month To Sell Your Home?
Are you considering selling your house? It’s important to know that the number of homes for sale is currently low due to fewer sellers listing their properties this season.
As we reflect on the state of the housing market in April of this year, we can see that there were fewer sellers listing their homes compared to previous years. In fact, the only year that had a lower number of sellers was April of 2020, when the pandemic hit and the housing market stalled. This year, we saw less than 400,000 sellers adding their homes to the market in April, compared to the usual 500,000 sellers in more typical years.
While there are a number of factors contributing to this trend, one of the main reasons keeping inventory low is rate lock. Some homeowners are reluctant to move when the mortgage rate they have on their current house is lower than the one they could get today on their next house. According to a recent survey from Realtor.com, 56% of people who are planning to sell in the next 12 months say they’re waiting for rates to come down.
This wait-and-see approach may be right for some sellers, but it also creates an opportunity for more eager sellers to jump in now. If your current house no longer fits your needs and you're ready to move, don’t miss this chance to stand out in the market.
When fewer sellers are putting their homes up for sale, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. That’s why your house could see multiple offers as buyers compete over the limited supply of homes for sale – especially if you price it right. In short, if you're ready to sell now, it's time to beat the competition before it comes onto the market. By doing so, your house should stand out and could potentially receive multiple offers. The key is to partner with a real estate professional who can help you navigate the current market conditions and get your house on the market.
In conclusion, the low inventory of homes for sale presents a unique opportunity for sellers who are ready to make a move. By taking advantage of this opportunity and partnering with a real estate professional, you can set yourself up for success in the current market. Don't miss out on the chance to stand out and potentially receive multiple offers on your home.
