Selling Your House Guide - Fall 2020

Selling Your House This Fall

As we move through what is by far one of the most challenging years America has ever seen, the housing market is exceeding all expectations. It’s recovering in what is being called truly remarkable by industry experts. The benefits of selling a home this season are plentiful, and worth exploring if you’re thinking of making a move this fall. Here’s why: 1. Buyers Are Actively in the Market Buyers emerged from stay-at-home orders in droves, firing up the housing market while creating a significant demand for homes to purchase. According to the National Association of Realtors (NAR), existing-home sales increased by 24.7% from June to July, so it’s clear that buyers are actively searching for homes to buy. According to Lawrence Yun, Chief Economist for NAR: “The housing market is well past the recovery phase and is now booming with higher home sales compared to the pre-pandemic days…With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.” 2. Inventory of Houses for Sale Is Low While buyer interest is high, it’s becoming increasingly difficult to find a home to purchase. According to the Existing Home Sales report from NAR, total housing inventory is down 21.1% from this time last year. It was low going into the pandemic and has dropped even further. Buyers are scooping homes up faster than they’re coming to market today, and it’s resulting in more bidding wars and houses selling fast.

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