Listing your home for sale is a big decision but there are many reasons why you shouldn’t wait to list if you are interested.
Many areas have been negatively affected by the shut down due to the Covid-19 virus. Real estate has been able to survive the storm and has been booming despite the circumstances.
Mark Fleming, Chief Economist for First American, reports:
“Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels.”
Buyers are still out in full force, even heading into fall. ShowingTime, which tracks the average number of buyer showings, just reported that buyer showings are up 61.9% compared to the same time period in 2019. They state:
“Normally, real estate activity begins to slow down in the late summer, but this year it peaked in July, August and into September.”
Why list your home for sale now?
Buyer demand is great, and the market is actually running low on homes for sale. Recently, realtor.com reported:
“Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory.”
What does this mean for sellers?
If you are thinking of listing your home for sale, don’t hesitate! A seller will always have the ability to negotiate a good deal when the buyer demand is high and home supply is low. That’s exactly what is happening today!
Next year, there may be a considerable increase in homes for sale in your area. Don’t wait for the competition to increase next year; now is the time to sell.