If you are trying to decide if you should sell your house, this is the right time to seriously consider making a move. FannieMae recent home purchase sentiment Index(HPSI) shows that the percentage of respondents saying it’s a good moment to sell is now higher than in the previous summers. 75% of consumers say that it’s a good moment to buy today.
Why is the sellers’ sentiment rising 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. Simply put, there aren’t enough houses for buyers to satisfy their demand.
According to the most recent data from the National Association of Realtors, we are still in a sellers market. This is because the housing supply remains well below the balanced norm. But while housing supply is undeniably low, the right side of the graph shows how the inventory situation is improving little by little each month as more sellers list their homes for sale.
This means that buyers have more choices each month than sellers. This means that your house might get less attention over time.
What does that all mean?
There may be no better time than now to sell if you have been waiting for the right moment. Inventory is gradually increasing each month, so selling sooner rather than later will help you maximize your home’s potential.
2021 is the right year to sell your house. This unique combination of high demand and low supply won’t last forever. To take advantage of the sellers’ market, contact a local realtor today.
This post was written by Josh Dotoli! Josh is the owner of https://joshdotoligroup.com/ which is a laser-focused real estate team at Compass comprised of industry experts selling Fort Lauderdale’s best neighborhoods. This dynamic group is one of the top-selling real estate teams in South Florida with over $94 million in sales in the past 12 months alone.