The Best Time To Sell Your House Is When Others Aren’t Selling

<article class="post-688438 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-688438"><span class="entry-date">May 11, 2023</span><div class="entry-header center-block text-center"><h1 class="entry-title">The Best Time To Sell Your House Is When Others Aren’t Selling</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=The+Best+Time+To+Sell+Your+House+Is+When+Others+Aren%E2%80%99t+Selling&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-best-time-to-sell-your-house-is-when-others-arent-selling%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
<div class="fb-share-button display-inline-block" data-href="https://gilliggroup.com/blog/the-best-time-to-sell-your-house-is-when-others-arent-selling/" data-layout="" data-size=""><a class="facebook solid fb-xfbml-parse-ignore" data-tracking="Post,Social Post Link Clicked,Twitter" href="https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-best-time-to-sell-your-house-is-when-others-arent-selling%2F&amp;src=sdkpreparse" target="_blank"><span class="force-hidden">Facebook</span></a></div>
<a class="pinterest solid display-inline-block" count-layout="horizontal" href="https://pinterest.com/pin/create/link/?url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-best-time-to-sell-your-house-is-when-others-arent-selling%2F&amp;description=The+Best+Time+To+Sell+Your+House+Is+When+Others+Aren%E2%80%99t+Selling" target="_blank"><span class="force-hidden">Pinterest</span></a>
<a class="linkedin solid display-inline-block" href="https://www.linkedin.com/shareArticle?mini=true&amp;url=https://gilliggroup.com/blog/the-best-time-to-sell-your-house-is-when-others-arent-selling/?shareSlug%3Dthe-best-time-to-sell-your-house-is-when-others-arent-selling" target="_blank"><span class="force-hidden">LinkedIn</span></a>
<a class="email dashicons dashicons-email solid display-inline-block" href="mailto:?subject=From gilliggroup.com: The Best Time To Sell Your House Is When Others Aren’t Selling&amp;body=The Best Time To Sell Your House Is When Others Aren’t Selling%0D%0Dhttps://gilliggroup.com/blog/the-best-time-to-sell-your-house-is-when-others-arent-selling/" target="_blank"><span class="force-hidden">Email</span></a>
</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="The Best Time To Sell Your House Is When Others Aren’t Selling Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20230511-the-best-time-to-sell-your-house-is-when-others-arent-selling.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
<p>If you’re thinking about <a href="https://www.simplifyingthemarket.com/2023/04/19/falling-out-of-love-with-your-house-it-may-be-time-to-move/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: rgb(5, 99, 193);" target="_blank">selling</a> your house, you should know the number of homes for sale right now is low. <strong>That’s because, this season, there are fewer sellers listing their houses for sale than the norm.</strong></p>
<p>Looking back at every <a href="https://www.realtor.com/research/data/" rel="noopener noreferrer" target="_blank">April</a> since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (<em>shown in red in the graph below</em>). In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw fewer than 400,000 sellers entering the market in April (<em>see graph below</em>):</p>
<p><a href="https://files.keepingcurrentmatters.com/content/images/20230510/20230511-the-number-of-sellers-listing-their-homes-is-lower-than-the-norm.png" rel="noopener noreferrer" target="_blank"><img decoding="async" src="https://files.keepingcurrentmatters.com/content/images/20230510/20230511-the-number-of-sellers-listing-their-homes-is-lower-than-the-norm.png"/></a></p>
<p>While there are a number of factors contributing to this trend, one thing keeping inventory low right now is that some homeowners are reluctant to move when the mortgage rate they have on their current house is lower than the one they could get today on their next house. It’s called <em>rate lock</em>.</p>
<p>As a recent survey from <em>Realtor.com</em> <a href="https://news.move.com/2023-04-17-Realtor-com-R-Survey-82-of-Those-Looking-to-Buy-and-Sell-a-Home-Feel-Locked-In-by-Low-Mortgage-Rate" rel="noopener noreferrer" style="color: rgb(5, 99, 193);" target="_blank">explains</a><em>, </em>56% of people who are planning to sell in the next 12 months say they’re waiting for rates to come down.</p>
<p><strong>While this <em>wait-and-see </em>approach is right for some sellers, it also creates an opening for more eager sellers to jump in now.</strong></p>
<p>If your current house truly doesn’t fit your needs anymore and you’re ready to move, don’t miss this chance to <a href="https://www.simplifyingthemarket.com/2023/02/20/spring-into-action-boost-your-homes-curb-appeal-with-expert-guidance/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: rgb(5, 99, 193);" target="_blank">stand out</a>. When fewer sellers are putting their homes up for sale, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. That’s why your house could see <a href="https://www.simplifyingthemarket.com/2023/04/11/the-big-advantage-if-you-sell-this-spring/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: rgb(5, 99, 193);" target="_blank">multiple offers</a> as buyers compete over the limited supply of homes for sale – especially if you <a href="https://www.simplifyingthemarket.com/2023/04/13/want-to-sell-your-house-this-spring-price-it-right/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: rgb(5, 99, 193);" target="_blank">price it right</a>.</p>
<p>As Lawrence Yun, Chief Economist at the <em>National Association of Realtors </em>(NAR), <a href="https://themreport.com/news/data/03-21-2023/existing-home-sales" rel="noopener noreferrer" style="color: rgb(5, 99, 193);" target="_blank">says</a>:</p>
<p></p>
<blockquote><p><em>“Inventory levels are still at historic lows . . . Consequently, multiple offers are returning on a good number of properties.”</em></p></blockquote>
<h3>SBottom Line</h3>
<p>If you’re ready to sell now, beat the competition before it comes onto the market. If you do, your house should stand out and could get multiple offers. Partner with a real estate professional to get your house on the market.</p>
</div>
</div></article>

Share:

More Posts

Send Us A Message

Compare listings

Compare