Sellers Are Getting Ready to Enter the Real Estate Market

“When will sellers return to the housing market?” is one of the most pressing issues in real estate today. A persistent dearth of housing supply has produced a highly competitive atmosphere for would-be purchasers, resulting in a sellers’ market. However, when the economy improves and more people become vaccinated, more sellers may become available.

According to Fannie Mae’s Home Purchase Sentiment Index (HPSI), the percentage of consumers who believe now is a favorable time to sell a home has risen from 61 percent to 67 percent. Doug Duncan, Fannie Mae’s Senior Vice President and Chief Economist, says:

“Consumer positivity regarding home-selling conditions nearly matched its all-time high.” (As shown in the graph below):

Fannie Mae isn’t the only expert group that has noticed an increase in the number of people considering selling their home.

According to George Ratiu, Senior Economist of realtor.com, The results of a realtor.com survey . . . showed that one-in-ten homeowners plans to sell this year, with 63 percent of those, looking to list in the next 6 months. Just as encouragingly, close to two-thirds of sellers plan to sell their homes at prices under $350,000, which would offer a tremendous boost to affordable housing for first-time buyers.

Bottom Line

If you’re thinking about selling your home, don’t wait for more competition to appear in your area. Contact a local real estate agent immediately to learn more about the advantages of selling your home before more come on the market.