Dependable Homebuyers, a national we buy houses company, has just published an article on best time to list a house for sale. The week of April 18-24 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.
Each week was scored based on favorability toward sellers — this included competition from other sellers (active listings and new listings), listing prices, market pace (days on market), likelihood of price reductions, and homebuyer demand. This blog post will shows how to sell a house faster with proven tips from professionals who know what they are doing.
The housing market in 2020 was anything but normal. There were widespread lockdowns that led to a delayed homebuying season and an uncharacteristically active off-season. Fortunately for prospective buyers and sellers, things are shaping up again in 2021 following typical seasonal trends much more closely than they did at first with prices falling closer into line with historical averages.
According to the article, days on market are rising to their highs last year largely due to inventory shortages early this year when demand increased exponentially due to fear of supply drying up because of people wanting or needing second homes while waiting for life to return to normal.
The best time to sell in 2021 has passed but the week of May 30 - June 5 will be an excellent opportunity for sellers, with a balance that favors them more than any other week this year. Competition from other sellers (active listings and new listings) as well as listing prices will be at their highest point during these weeks, which will be a great advantage for sellers. The blog post provides recent data to back up the company's claims for anyone interested to read.
"This week will also have the best balance of homebuyer demand - with more buyers looking to buy than sell, and fewer homes on the market overall. The first half of May has seen some momentum in favor of listing prices but it's unclear whether this trend will continue throughout summer months," stated the blog post.
The inventory shortage has created a seller's market this year. Yet, some emerging trends indicate buyers may regain leverage later in the year when demand cools and sellers are left with less to offer potential customers. That said, it is important for all interested parties- especially those who wish to capitalize on early success -to begin planning now so they can take advantage of these opportunities before competitors do as well.
Mortgage rates are on the rise, and will continue to climb. Mortgage rates have been historically low this year, leading many people who wanted a lock in favorable interest rates but prices were still quite high with higher monthly payments when compared to past years where mortgage loans had lower interest charges for buyers. This has led more potential homebuyers out of the market or curtails their purchase by lowering what they can afford based off how much their new loan payment would be each month if it went up 75 basis points from 2.65%.
The first few weeks of May are usually the most popular for sellers to put homes up on sale. This year, we expect there will be more and more sellers coming online as we approach this time frame due to seasonal patterns. In addition, improved vaccinations rates should lead us into a situation where even with rising mortgage rates cooling buyer demand; buyers have an increased supply because it is not just during these early months that seller want out of their home or property anymore but any season throughout the whole calendar year has seen people wanting new places either temporarily or permanently which leaves them open for being able to sell so people see many different types in terms of houses all shapes sizes when they come back onto the market adding much needed inventory.
Those interested can read the original article by clicking here.
SOURCE: Press Advantage [Link]
Dependable Homebuyers is a local home buying company in Maryland. We buy houses in any condition and any situation. If you want to sell your house fast, give us a call at (443) 219-8331 and we’ll provide you a cash offer within 24 hours.
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