Well – these are strange times and it is no surprise that many who would have hoped to sell their homes this year have wondered if they should put their plans on hold.
If we factor in the pandemic and all the uncertainty going around it is understandable that many people think that now is not a good time to sell a home.
But the actual data is suggesting the exact opposite. We have more buyers than sellers and the market has turned into a sellers market.
According to the National Association of Realtors® the Pending Home Sales Index shot up 44.3% – the highest month over month jump since 2001.
The home inventory remains low and the mortgage interest rates are on a historic low. Therefore the conditions for sellers are perfect to get higher prices.
One would think that due to the pandemic, the housing market would take a hit and home prices would drop, but is actually quite the contrary.
With the experiences people have in spending more time at home, the realization came that where you live is important. Home office demands, outdoor spaces and more privacy became major factors for people.
If you are curious about how all of this relates to your own home, please contact me for a complimentary home evaluation.