Selling Your Home When Inventory is Low

Now May Be Prime Time to Sell Your Home

Selling Your Oceanside Home

If there is even a slight chance you may want to sell your home, now is the time to act!

Housing has definitely shifted to a seller’s market, with inventory at a 13 year low. The National Association of Realtors (NAR) reports the January Pending Home Sales Index as being at 105.9% which is the highest rate for contracts (not closings) in years, meaning that homes that are available are being sold quickly.

According to NAR Chief Economist Lawrence Yun, home pricing will likely be on the upswing as less homes are on the market. “Over the near term, rising contract activity means higher home sales, but total sales for the year are expected to rise less than in 2012,” he said. “While home prices are projected to rise more strongly because of inventory shortages,” Yun concluded.

Throughout the United States pending sales have increased, with the largest gains seen in the Northeast and Midwest. Moderate increases in pending sales occurred in the South and the West has stayed pretty much the same in the last month.

Over five million homes are expected to be sold in 2013. Will your home be one of them? To find our more about how to start the process of selling your home, please contact us, your local experts in real estate.

 

What do we mean by Inventory is Low?

Right now that are only about 6000 homes in all of San Diego County that are for sale.  This number usually runs in the 18,000 homes for sale range.  What this means is that buyers are trying to purchase homes that are in high demand, and that means that most homes are getting multiple offers before sale.

This means that as a seller you will have lots of buyers competing for a few number of homes (low inventory), and if your home is one of those for sale, it’s going to get lots of looks, good offers, and will likely sell quickly.

And so……………..

  • Don’t wait for more sellers to put their homes up for sale.
  • Don’t wait for buyers to come to you….go to them.
  • Don’t think that this low inventory will last….it won’t.

If you want to get the most money for your home than you’ve been able to get in more than four years, and you don’t want to miss this wave of low inventory, get off the Low-Boy Chair and let us give you the lowdown.  (Sorry, my funny bone just kicked in).

Sell your home while inventory is low.  Call us now.

 

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By Don Reedy

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