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Sellers' Market

What Does Being in a Sellers’ Market Mean?

What Does Being in a Sellers’ Market Mean?

What Does Being in a Sellers’ Market Mean? | MyKCM

Whether or not you’ve been following the real estate industry lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house?

It starts with the number of houses available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph below):What Does Being in a Sellers’ Market Mean? | MyKCMWhen the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which leads to more bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer. As this happens, home prices rise, and sellers are in the best position to negotiate deals that meet their ideal terms.

Right now, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and the ongoing rise in remote work have prompted buyers to think differently about where they live – and they’re taking action. If you put your house on the market while supply is still low, it will likely get a lot of attention from competitive buyers.

Bottom Line

Today’s ultimate sellers’ market holds great opportunities for homeowners ready to make a move. Listing your house now will maximize your exposure to serious buyers who will actively compete against each other to purchase it. Let’s connect to discuss how to jumpstart the selling process.

Mario and Angelina Perales

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2021 RE Market Snapshot Featured Image

2021 Real Estate Market Snapshot

This past year was filled with twists and turns that no one could have predicted. It wasn’t always easy, but now that we have entered into 2021, it’s time to shift our focus toward a brighter future.

If the economic uncertainty of 2020 had you concerned, We’re here to bring some peace-of-mind for 2021 when it comes to the housing market. The information below provides a well-rounded snapshot of the real estate market today, while noting a few trends to watch as the year unfolds. We’re also including a short quiz to help you figure out if now is the right time for your family to make a move, especially if your needs have changed since last year.

Hopefully this piece provides you with clarity on the market, so you can better prepare for 2021. Don’t hesitate to call us with any questions about the latest trends! Remember, real estate is still local — We’re happy to shed some light on how our area’s market is looking this year.

2021 Market Snapshot

2021 Real Estate Quiz

By the way… if there is any way we can be of service to you or your family, please call us. We’re happy to help you however we can.

Mario and Angelina Perales

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