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Should I Sell My House This Year?

Tuesday, January 28, 2020   /   by Michael Picciuto

Should I Sell My House This Year?


Should I Sell My House This Year?



 



If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Survey from the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel good about selling a house now. That’s some news to get excited about!



 



As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a home:



In the case of those with a yearly salary of $100,000 or more, the results jumped even higher, coming in at an 82% positive sentiment.



 



When the study divided the outcomes by region, the results still consistently showed Americans feeling good about selling:



 



Northeast: 71% positive



Midwest: 76% positive



South: 72% positive



West: 81% positive



As you can see, many believe that, despite everything going on in the world, it is still a good time to sell a home.



 



According to NAR, the unsold inventory available today “sits at a 3.0-month supply at the current sales pace,” which is down from a 3.7-month supply in November. The current inventory is half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory. This is good news for sellers, as Lawrence Yun, Chief Economist at NAR, says:



 



“Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”

Couture Realty
Ken Couture
8367 W Flamingo Rd Suite 101
Las Vegas, NV 89147
702-476-0060

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