5 Reasons to Sell Your House This Spring

<article class="post-2046 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-2046"><span class="entry-date">March 8, 2021</span><div class="entry-header center-block text-center"><h1 class="entry-title">5 Reasons to Sell Your House This Spring</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=5+Reasons+to+Sell+Your+House+This+Spring&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2F5-reasons-to-sell-your-house-this-spring%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p>When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are five reasons why this is the perfect time to sell your house if you’re ready.<span id="more-43974"></span></p>
<h4><strong>1. There’s high demand from homebuyers.</strong></h4>
<p>Buyer demand is strong right now, and buyers are active in the market. <em>ShowingTime</em>, which tracks the average number of buyer showings on residential properties, recently announced that <strong>buyer showings are up 51.5%</strong> compared to this time last year. Daniil Cherkasskiy, <em>Chief Analytics Officer </em>at <em>ShowingTime, </em><a href="https://www.showingtime.com/blog/january-2021-showing-index-results/">notes</a>:</p>
<blockquote>
<p><em>“As anticipated<strong>, demand for real estate remains elevated</strong> and continues to be affected by low levels of inventory…On average, <strong>each home is getting 50 percent or more requests this year compared to January of last year.</strong> As we head into the busy season, it’s likely we’ll push into even more extreme territory until the supply starts catching up with demand.”</em></p>
</blockquote>
<p>When your house is positioned to get a ton of attention from competitive buyers, you’re in the best spot possible as the seller.</p>
<h4><strong>2. There aren’t enough houses for sale.</strong></h4>
<p>Purchaser demand is so high, the market is <a href="https://www.simplifyingthemarket.com/2021/02/22/where-have-all-the-houses-gone/?a=712984-fa409495d5d70154d03a25e81e9540e2">running out</a> of available houses for sale. Recently, <em>realtor.com</em> <a href="https://www.realtor.com/research/february-2021-data/">reported</a>:</p>
<blockquote>
<p><em>“Nationally, the <b>inventory of homes for sale in February decreased by 48.6% over the past year</b>, a higher rate of decline compared to the 42.6% drop in January. This amounted to 496,000 fewer homes for sale compared to February of last year.”</em></p>
</blockquote>
<p>The <em>National Association of Realtors</em> (NAR) also <a href="https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales">reveals</a> that, while home sales are skyrocketing, the inventory of existing homes for sale is continuing to drop dramatically. Houses are essentially selling as fast as they’re hitting the market – in fact, NAR <a href="https://www.nar.realtor/research-and-statistics/research-reports/realtors-confidence-index">reports</a> that the average house is on the market for only 21 days.</p>
<p>It’s this imbalance between high buyer demand and a low supply of houses for sale that gives sellers such an advantage. <strong>A seller will always negotiate the best deal when demand is high and supply is low.</strong> That’s exactly what’s happening in the real estate market today.</p>
<h4><strong>3. You have a lot of leverage in today’s market.</strong></h4>
<p>Clearly, many more people are interested in buying than selling this spring, creating the ultimate <a href="https://www.simplifyingthemarket.com/2021/02/26/its-a-sellers-market-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2">sellers’ market</a>. When this happens, homeowners in a position to sell have the upper hand in negotiations.</p>
<p>According to NAR, agents are <a href="https://cdn.nar.realtor/sites/default/files/documents/2021-01-realtors-confidence-index-02-19-2021.pdf">reporting</a> an <strong>average of 3.7 offers per house </strong>and an increase in bidding wars. As a seller, this means the ball is in your court – so much so that you can use your <a href="https://www.simplifyingthemarket.com/2021/02/24/how-much-leverage-do-todays-house-sellers-have/?a=712984-fa409495d5d70154d03a25e81e9540e2">leverage</a> to negotiate the best possible contract. Demand is there, and now is the perfect time to sell for the most favorable terms.</p>
<h4><strong>4. It’s a great way to use your home equity.</strong></h4>
<p>According to the latest <a href="https://www.corelogic.com/insights-download/homeowner-equity-report.aspx">data</a> from <em>CoreLogic</em>, as of the third quarter of 2020, <strong>the average homeowner gained $17,000 in equity </strong>over the past year, and that number continues to grow as <a href="https://www.simplifyingthemarket.com/2021/03/02/home-prices-what-happened-in-2020-what-will-happen-this-year/?a=712984-fa409495d5d70154d03a25e81e9540e2">home values</a> appreciate. <a href="https://www.simplifyingthemarket.com/2021/02/17/3-ways-home-equity-can-have-a-major-impact-on-your-life/?a=712984-fa409495d5d70154d03a25e81e9540e2">Equity</a> is a type of forced savings that grows during your time as a homeowner and can be put toward bigger goals like buying your next dream home.</p>
<p>Mark Fleming, <em>Chief Economist</em> at <em>First American,</em> <a href="https://blog.firstam.com/economics/housing-market-potential-reaches-highest-level-since-2007">notes</a>:</p>
<blockquote>
<p><em>“As homeowners gain equity in their homes, they are more likely to consider using that <strong>equity to purchase a larger or more attractive home</strong> – the wealth effect of rising equity. In today’s housing market, fast rising demand against the limited supply of homes for sale has resulted in continued house price appreciation.”</em></p>
</blockquote>
<h4><strong>5. It’s a chance to find a home that meets your needs.</strong></h4>
<p>So much has changed over the past year, including what many of us need in a home. Spending extra time where we currently live is enabling many of us to re-evaluate homeownership and what we find most important in a home.</p>
<p>Whether it’s a house that has the features suited to working remotely, space for virtual or hybrid schooling, a home gym or theater, or something else, selling this spring gives you a chance to make a move and <a href="https://www.simplifyingthemarket.com/2021/02/25/are-there-going-to-be-more-homes-to-buy-this-year/?a=712984-fa409495d5d70154d03a25e81e9540e2">find</a> the home of your dreams.</p>
<h3><strong>Bottom Line</strong></h3>
<p>Today’s housing market belongs to the sellers. If you’ve considered making a move but have been waiting for the right market conditions, your wait may be over. Let’s connect so you’ll be positioned to win when you sell your house this spring.</p>
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