What It Means To Be in a Sellers’ Market

<article class="post-2076 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-2076"><span class="entry-date">March 29, 2021</span><div class="entry-header center-block text-center"><h1 class="entry-title">What It Means To Be in a Sellers’ Market</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=What+It+Means+To+Be+in+a+Sellers%E2%80%99+Market&url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fwhat-it-means-to-be-in-a-sellers-market%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="What It Means To Be in a Sellers’ Market | Simplifying The Market" class="webfeedsFeaturedVisual wp-post-image" decoding="async" link_thumbnail="" loading="lazy" sizes="auto, (max-width: 549px) 100vw, 549px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2021/03/23170725/20210329-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2021/03/23170725/20210329-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2021/03/23170725/20210329-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>If you’ve given even a casual thought to <a href="https://www.simplifyingthemarket.com/2021/03/04/is-it-a-good-time-to-sell-my-house/?a=712984-fa409495d5d70154d03a25e81e9540e2">selling</a> your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate <strong>sellers’ market</strong> and the optimal time to make sure your house is <a href="https://www.simplifyingthemarket.com/2021/02/24/how-much-leverage-do-todays-house-sellers-have/?a=712984-fa409495d5d70154d03a25e81e9540e2">available</a> for buyers who are looking for homes to purchase.<span id="more-44082"></span></p>
<p>The latest <a href="https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales">Existing Home Sales Report</a> from <em>The National Association of Realtors </em>(NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a <strong>2-month supply</strong> at the current sales pace.</p>
<p>Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers <em>(See graph below)</em>:<a href="https://files.simplifyingthemarket.com/wp-content/uploads/2021/03/23170727/20210329-MEM-Eng-1.png"><img alt="What It Means To Be in a Sellers’ Market | Simplifying The Market" class="aligncenter wp-image-44084" decoding="async" height="488" loading="lazy" sizes="auto, (max-width: 650px) 100vw, 650px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2021/03/23170727/20210329-MEM-Eng-1.png" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2021/03/23170727/20210329-MEM-Eng-1.png 1000w, https://files.simplifyingthemarket.com/wp-content/uploads/2021/03/23170727/20210329-MEM-Eng-1-400×300.png 400w" width="650"/></a>When 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. As a result, competition among purchasers rises and more bidding wars take place, making it <a href="https://www.simplifyingthemarket.com/2021/03/24/why-you-should-think-about-listing-prices-like-an-auctions-reserve-price/?a=712984-fa409495d5d70154d03a25e81e9540e2">essential</a> for buyers to submit very attractive <a href="https://www.simplifyingthemarket.com/2021/03/15/how-to-make-a-winning-offer-on-a-home/?a=712984-fa409495d5d70154d03a25e81e9540e2">offers</a>.</p>
<p>As this happens, home prices rise and <a href="https://www.simplifyingthemarket.com/2021/03/08/5-reasons-to-sell-your-house-this-spring-2/?a=712984-fa409495d5d70154d03a25e81e9540e2">sellers</a> are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so <a href="https://www.simplifyingthemarket.com/2021/02/22/where-have-all-the-houses-gone/?a=712984-fa409495d5d70154d03a25e81e9540e2">few</a> homes are available to buy, it will likely get a lot of attention from hopeful buyers.</p>
<p>Today, there are many buyers who are ready, willing, and able to purchase a home. Low <a href="https://www.simplifyingthemarket.com/2021/03/09/how-upset-should-you-be-about-3-mortgage-rates/?a=712984-fa409495d5d70154d03a25e81e9540e2">mortgage rates</a> and a year filled with unique <a href="https://www.simplifyingthemarket.com/2020/11/16/why-working-from-home-may-spark-your-next-move/?a=712984-fa409495d5d70154d03a25e81e9540e2">changes</a> have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.</p>
<h3><strong>Bottom Line</strong></h3>
<p>Home prices are <a href="https://www.simplifyingthemarket.com/2021/03/02/home-prices-what-happened-in-2020-what-will-happen-this-year/?a=712984-fa409495d5d70154d03a25e81e9540e2">appreciating</a> in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.</p>
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