Is It a Good Time to Sell My House?

<article class="post-2042 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-2042"><span class="entry-date">March 4, 2021</span><div class="entry-header center-block text-center"><h1 class="entry-title">Is It a Good Time to Sell My House?</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=Is+It+a+Good+Time+to+Sell+My+House%3F&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fis-it-a-good-time-to-sell-my-house%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="Is It a Good Time to Sell My House? | 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/2021/03/02143358/20210304-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2021/03/02143358/20210304-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2021/03/02143358/20210304-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling <a href="https://www.simplifyingthemarket.com/2020/11/13/tips-to-sell-your-house-safely-right-now-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2">safely</a>. The latest <em>Home Purchase Sentiment Index</em> (<a href="https://www.fanniemae.com/media/38211/display">HPSI</a>) by <em>Fannie Mae</em> shows that <strong>57% of consumers believe now is a good time to sell. </strong><span id="more-43953"></span></p>
<p>Doug Duncan, <em>Vice President and Chief Economist </em>at<em> Fannie Mae,</em> <a href="https://www.fanniemae.com/research-and-insights/surveys/national-housing-survey">explains</a>:</p>
<blockquote>
<p><em>“Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that <strong>it’s a good time to sell a home, with many citing favorable mortgage rates, high home prices, and low housing inventory as their primary rationale.”</strong></em></p>
</blockquote>
<p>Normally, spring is the busiest season in the housing market – the time when many homeowners decide to list their houses. While this is obviously not a normal year since the pandemic is still very much upon us, experts are optimistic that consumer positivity around selling will lead to more homeowners making moves this year. Duncan continues to say:</p>
<blockquote>
<p><em>“We will pay close attention to see if this newfound optimism develops into a trend.”</em></p>
</blockquote>
<h4><strong>What does this mean if you’re thinking of selling your house?</strong></h4>
<p>The fact that there are so few houses available for sale today is one driver that’s encouraging consumers to think more positively about selling. The National Association of Realtors (NAR) <a href="https://www.nar.realtor/newsroom/existing-home-sales-tick-up-0-6-in-january">states</a>:</p>
<blockquote>
<p><em>“Total housing inventory at the end of January amounted to 1.04 million units, down 1.9% from December and <strong>down 25.7% from one year ago</strong> (1.40 million).”</em></p>
</blockquote>
<p>With so few homes available to buy, your house will be more likely to rise to the top of an eager purchaser’s wish list in this competitive market. Today’s high buyer <a href="https://www.simplifyingthemarket.com/2021/02/22/where-have-all-the-houses-gone/?a=712984-fa409495d5d70154d03a25e81e9540e2">activity</a> is creating upward pressure on home <a href="https://www.simplifyingthemarket.com/2021/03/02/home-prices-what-happened-in-2020-what-will-happen-this-year/?a=712984-fa409495d5d70154d03a25e81e9540e2">prices</a> and more multiple-offer scenarios. According to the <a href="https://cdn.nar.realtor/sites/default/files/documents/2021-01-realtors-confidence-index-02-19-2021.pdf"><em>Realtors Confidence Index Survey</em></a> from NAR, the average home for sale is receiving <strong>3.7 offers today</strong>, up from 2.3 offers just one year ago. This makes selling even more enticing.</p>
<p>In this kind of <a href="https://www.simplifyingthemarket.com/2021/02/26/its-a-sellers-market-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2">sellers’ market</a>, you have a huge <a href="https://www.simplifyingthemarket.com/2021/02/24/how-much-leverage-do-todays-house-sellers-have/?a=712984-fa409495d5d70154d03a25e81e9540e2">advantage</a> in the process. And here’s another win – you can also use your <a href="https://www.simplifyingthemarket.com/2021/01/06/the-importance-of-home-equity-in-building-wealth/?a=712984-fa409495d5d70154d03a25e81e9540e2">equity</a> toward a down payment on a new home when you move.</p>
<p>Wondering where you’ll go if you try to move while it’s so challenging to find a home to buy? Well, in many areas, there are more homes available at the higher end of the <a href="https://www.simplifyingthemarket.com/2021/02/10/the-luxury-market-is-attracting-buyers-in-2021/?a=712984-fa409495d5d70154d03a25e81e9540e2">market</a>, so finding a move-up home may be less of an issue if you’re ready to search for your dream home this spring.</p>
<h3><strong>Bottom Line</strong></h3>
<p>If you pressed pause on selling your house last year, now may be the best time to put your plans back into motion while inventory is so low. Let’s connect today to get the process started.</p>
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