3 Charts That Shout, ‘List Your Home Today!’
In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.
Every month NAR reports on the number of buyers out in the market looking for homes, which is also known as buyer traffic. As seen on the map below, buyer demand in March was strong or very strong in 45 out of 50 states nationwide, and Washington, DC.
Many buyers are being confronted with a very competitive market in which they must compete with other buyers for their dream homes (if they are even able to find a home they wish to purchase).
Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.
Many homeowners underestimate the amount of equity they currently have in their homes. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their homes. In reality, CoreLogic’s latest Equity Report tells us that 78.9% actually do!
Many homeowners who are undervaluing the equity they have in their homes may feel trapped, which may be contributing to the lack of inventory in the market.
If you are debating selling your home this year, let’s meet up to evaluate the equity you have in your home, as well as the opportunities available in your market.
- 2019 Buyer and Seller Guides - March 19, 2019
- 2019 Will Be a Great Year for Buyers AND Sellers - February 20, 2019
- How to Get a Better Perspective on Affordability - February 10, 2019
- Why It Makes No Sense to Wait for Spring to Sell - January 30, 2019
- How Does the Supply of Homes for Sale Impact Buyer Demand? - January 30, 2019
- The Best Time to List Your House? TODAY! - January 14, 2019
- How Much Has Your Home Increased in Value? - September 24, 2018
- Home Prices Have Appreciated 6.9% in 2018 - September 18, 2018
- Are Homebuyers Starting to Hit the ‘Pause’ Button? - September 16, 2018
- Charles Nagy and Theodore Van Laar win Second Quarter Sales Leader Award - August 6, 2018