What You Need To Know About Selling in a Sellers’ Market.

Dated: April 29 2022

Views: 88

What You Need To Know About Selling in a Sellers' Market | Simplifying The Market

What You Need To Know About Selling in a Sellers’ Market

Even if you haven’t been following real estate news, you’ve likely heard about the current sellers’ market. That’s because there’s a lot of talk about how strong market conditions are for people who want to sell their houses. But if you’re thinking about listing your house, you probably want to know: what does being in a sellers’ market really mean?

What Is a Sellers’ Market?

The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still very low. There’s a 2-month supply of homes at the current sales pace.

Historically, a 6-month supply is necessary for a normal or neutral market where there are enough homes available for active buyers. That puts today deep in sellers’ market territory (see graph below):

What You Need To Know About Selling in a Sellers' Market | Simplifying The Market

What Does This Mean for You When You Sell?

When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which can lead to more bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer upfront. This could drive the final price of your house up.

And because mortgage rates and home prices are climbing, serious buyers are motivated to make their purchase soon, before those two things rise further. That means, if you put your house on the market while supply is still low, it will likely get a lot of attention from competitive buyers.

Bottom Line

The current real estate market has incredible opportunities for homeowners looking to make a move. Listing your house this season means you’ll be in front of serious buyers who are ready to buy. Let’s connect so you can jumpstart the selling process.

Blog author image

Conny Johansen

Are you a community HERO?? To show our appreciation we are giving back to all service members including US Armed Forces & veterans, 1st responders, medical personnel, educators & non-profit employees....

Latest Blog Posts

Three Tips for First-Time Homebuyers.

Three Tips for First-Time HomebuyersBuying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the

Read More

What You Need To Know About Selling in a Sellers’ Market.

What You Need To Know About Selling in a Sellers’ MarketEven if you haven’t been following real estate news, you’ve likely heard about the current sellers’ market. That&rsquo

Read More

How To Navigate a Market Where Multiple Offers Is the New Normal.

How To Navigate a Market Where Multiple Offers Is the New NormalIf you’re thinking of buying a home today, you already know that the number of homes available for sale is low. But

Read More

How To Approach Rising Mortgage Rates as a Buyer.

How To Approach Rising Mortgage Rates as a BuyerIn the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the

Read More