ThomasRiddleGroup

ThomasRiddleGroup

Why 2021 Is Still the Year To Sell Your House

Rob’s Market Insight

In August, we typically see a three-week slow down in the market as families prepare for back-to-school responsibilities, followed by a quick, strong, rebound for the remaining Fall market in Central Ohio. We also see a second wave of empty nesters hit the market as parents with college-age children discover unused spaces and a home that is miraculously easier to keep clean for showings!

Thinking of Selling?

If you’re trying to decide whether or not to sell your house, this 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.

Why 2021 Is Still the Year To Sell Your House | MyKCM

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).Clearly, 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. Give us a call at 614-578-4199

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
Recent Posts

5 Tips for Building a Smart Home

Smart Homes exist for one reason only: To make your life much easier. If you are on the fence about setting up your Smart Home, here are a few tips and ideas that can help you make your decision.

4 Tips for Choosing Patio Furniture

Summer time is the perfect time to relax on your patio. Finding the perfect furniture can often take away from that relaxation. Here are 4 tips that can help you find that perfect patio furniture.

Get in Touch

Have questions? We’re happy to help. Ask us here and we’ll get back to you right away.

Compare listings

Compare

Get Started With A Free, No-Obligation, Market Analysis.

As full-time and fully dedicated real estate agents, our sole focus will be on your sale and your happiness. We will always be a call, email, or text away to advise you as needed.

Note: Please be assured we will use this information only to send you the information you have requested and we will never share or rent your contact information with any other party. By giving us your name and email address, you are giving Thomas|Riddle Real Estate Group permission to contact you.