The most recent report of the Economic Pulse Flash Survey from the National Association of Realtors (NAR), results show that individuals selling their homes today are holding strong on price. According to the most current information, 74% of real estate agents noted that sellers are not dropping listing prices to bring in more home Buyers. Lawrence Yun, Chief Financial Expert at NAR, stated:
“The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy.”
This inventory shortage, which spread out widely throughout the housing market going into today’s financial slowdown, developed an environment where there were not enough houses for sale for those who wanted to purchase them. Yun also stated:
“With the current quarantine recommendations in place, fewer sellers are listing homes, which will limit buyer choices.”
So, with purchaser choices currently restricted entering into this season, and more sellers getting rid of listings today, if you have actually been considering listing your home, it’s a good time to do so. Lots of others in your community might be waiting to make a move or eliminating their listings, so staying on the marketplace– or delving into it– might work to your advantage. Purchasers today are major ones, and with rates holding consistent in this low-inventory market, you can feel great about offering today. Accepting the process virtually, where readily available, might help your home struck the top of an excited buyer’s list. While your neighbors lose out on this opportunistic time, you don’t need to.
If home buyers’ options are limited in your neighborhood, putting your home on the market might allow you to sale your home quicker and beat the influx of sellers who would wait until later. Let’s connect today to ensure you have the specialist help you require to be successful in the selling procedure.