In an inventory crisis...will you Take the Opportunity to Sell Your Home4/21/2018
The low number of available, for-sale, homes has created an inventory crisis. According to the December Zillow® Real Estate Market Report , inventory across the country has been falling 10% for the past 3 years and it expects the trend to continue in 2018.
WHAT CAN SELLERS EXPECT?
Less inventory means more competition among buyers. Buyers have less options and as a result a seller can expect:
- More attractive offers as buyers try to outbid one another
- A speedy sale as many buyers are waiting for new homes to hit the market
- Fewer conditions and demands as buyers have less leverage in negotiations
The crisis has created an opportunity that only comes once every few years but it won't last forever. As Javier Vivas, Director of economic research for realtor.com®, said:
“We’ve seen two or three years of what could be considered unsustainable levels of price appreciation.”
If you've been having thoughts about selling your house, whether it's because you're family size has increased and you need a new home. Or, you're still in your starter home and are ready to upgrade. Or, maybe, you just want to change location to be closer to work or family. You’ll want to take action now to ensure you get the most attention for your listing and the best price, now is the time to get it done!