Here's a Quick "WIN" for Sellers

Dated: November 2 2020

Views: 40

Three Ways Low Inventory Is a Win for Sellers

Three Ways Low Inventory Is a Win for Sellers | MyKCM

The number of houses for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

"There is no shortage of hopeful, potential buyers, but inventory is historically low."

When the demand for homes is higher than what’s available for sale, it’s a great time for homeowners to sell their house. Here are three ways low inventory can help you win if you’re ready to make a move this fall.

1. Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently entering into bidding wars for the houses they want to purchase. This buyer competition drives home prices up. As a seller, this can definitely work to your advantage, potentially netting you more for your house when you close the deal.

2. Greater Return on Your Investment

Rising prices mean homes are also gaining value, which drives an increase in the equity you have in your home. In the latest Homeowner Equity Insights ReportCoreLogic explains:

“In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity.”

This year-over-year growth in equity gives you the ability to put that money toward a down payment on your next home or to keep it as extra savings.

3. Better Terms

When we’re in a sellers’ market like we are today, you’re in the driver’s seat if you sell your house. You have the power to sell on your terms, and buyers are more likely to work with you if it means they can finally move into their dream home.

So, is low housing inventory a big deal?

Yes, especially if you want to sell your house at the perfect time. Today’s market gives sellers immense negotiating power. However, it won’t last forever, especially as more sellers return to the housing market next year. If you’re considering selling your house, the best time to do so is now.

Bottom Line

If you’re interested in taking advantage of the current sellers’ market, let’s connect today to determine your best move in our local market.

Blog author image

Diana Alexander

Get a negotiation pro on your side for buying, selling, or leasing your next home: - Trusted resource for answers about the process - Innovative marketing strategies - Expertise in neighborhood fea....

Latest Blog Posts

Achieving the Dream of Homeownership in 2022

Achieving the Dream of HomeownershipHomeownership has long been considered the American Dream, and it’s one every American should feel confident and powerful pursuing. But owning a home is

Read More

Ready To Sell, but Don’t Know Where To Go?

Ready To Sell, but Don’t Know Where You’ll Go? Some HighlightsIf you’re thinking of selling your house but don’t know what you should buy, you have .

Read More

Homeowner Wealth Increases

Homeowner Wealth Increases Through Growing Equity This YearBuilding financial wealth and stability remains one of the top reasons Americans choose to own a home, and as a homeowner, your

Read More

Reasons to Hire a Real Estate Pro

Reasons to Hire a Real Estate Professional Some HighlightsChoosing the right real estate professional to work with is one of the most important decisions you can make in your home buying or

Read More