Wednesday, August 25, 2021 / by Ken Couture
If you are trying to decide whether to sell your home, now is the time to seriously consider moving.
Fannie Mae’s recent Home Purchase Sentiment Index (HPSI) reveals the number of respondents who say it’s a good time to sell is higher now than it was over the past few summers
Why is sellers sentiment up year-over-year?
The higher good time to sell sentiment has to do with today’s market conditions, specifically low housing supply, and high buyer demand. In the simplest terms, we don’t have enough houses available for sale to meet buyer demand.
According to the latest data from the National Association of Realtors (NAR), we’re still firmly in a sellers’ market because housing supply is well below a balanced norm
Obviously, today's balance is beneficial to the seller. However, while the housing supply is undoubtedly low, the right side of the graph shows how the inventory situation is gradually improving each month as more and more sellers list homes for sale.
So, what’s that mean for you?
If you’ve been waiting for the perfect time to sell, there may not be a better chance than right now. Inventory is gradually increasing each month, so selling sooner rather than later will help you maximize your home’s potential.
If you plan to sell your home, 2021 is still the year of the sale. The unique combination of low supply and high demand won't last forever. Contact a local real estate professional right away to find out what you need to do now to take advantage of this seller's market.
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