It's Still the Year to Sell Your House. Here's Why.

Dated: August 25 2021

Views: 503

If you’re trying to decide whether or not to sell your house, now is the time to think seriously about making a move. 

Fannie Mae’s recent Home Purchase Sentiment Index (HPSI) reveals the number of respondents who say it’s a good time to sell is higher now than it was over the past few summers (see graph below). Today, the majority of consumers, 75 percent, say it’s a good time to sell a house.Why 2021 Is Still the Year To Sell Your House | MyKCM

Why is sellers sentiment up 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. In the simplest terms, we don’t have enough houses available for sale to meet buyer demand.

According to the latest data from the National Association of Realtors (NAR), we’re still firmly in a sellers’ market because housing supply is well below a balanced norm (shown in the graph below).Why 2021 Is Still the Year To Sell Your House | MyKCMClearly, the scales are tipped in a seller’s favor today. 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.

As a seller, that means each month, buyers have more options to pick from. By extension, that means your house may get less buyer attention with time. Danielle Hale, Chief Economist for realtor.com, explains it like this:

More homeowners continue to list homes for sale compared to a year ago… Notably, while new listings continue to lag behind a more ‘normal’ 2019 pace, the gap is shrinking. Even though homes continue to sell quickly thanks to high demand and limited supply, new listings are subtly shifting the balance of market conditions in favor of buyers.” 

So, what’s that mean for you?

If you’ve been waiting for the perfect time to sell, there may not be a better chance than right now. Inventory is gradually increasing each month, so selling sooner rather than later will help you maximize your home’s potential.

Bottom Line

If you’re planning to sell your house, 2021 is still the year to do it. The unique mix of low supply and high demand won’t last forever. Let’s connect to discuss what you need to do now to sell your house and take advantage of this sellers’ market. I'm at 803.610.1319 and bill@billjordanrealestate.com.

Blog author image

Bill Jordan

Local. Global. Discreet. Bill has helped his clients buy and sell luxury townhouses, $1 million homes, equestrian properties and more throughout the fast-paced Charlotte are....

Latest Blog Posts

The Ultimate Kitchen Design Guide

Even if you’re working closely with an interior designer or a kitchen design firm, understanding what goes into a kitchen design is an integral part of the process. Before working with a

Read More

Waiting to Sell Your House Could Cost You a Small Fortune

Many homeowners who plan to sell in 2022 may think the wise thing to do is to wait for the spring buying market since historically about 40 percent of home sales occur between April and July.

Read More

Your Second Home Should Promote Relaxation

For many luxury homeowners, a second residence is a place where they can get away for a few days and escape daily stress. The appeal of such a home, of course, is readily apparent. If you’re

Read More

What's Going to Happen With Home Prices This Year?

After almost two years of double-digit increases, many experts thought home price appreciation would decelerate or happen at a slower pace in the last quarter of 2021. However, the latest Home

Read More