What Does Being in a Sellers’ Market Mean?

<article class="post-8779 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-8779"><span class="entry-date">August 17, 2021</span><div class="entry-header center-block text-center"><h1 class="entry-title">What Does Being in a Sellers’ Market Mean?</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+Does+Being+in+a+Sellers%E2%80%99+Market+Mean%3F&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fwhat-does-being-in-a-sellers-market-mean%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="What Does Being in a Sellers’ Market Mean? | 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/2021/08/16121315/20210817-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2021/08/16121315/20210817-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2021/08/16121315/20210817-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>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?<span id="more-44960"></span></p>
<p>It starts with the number of houses available for sale. The latest <a href="https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales"><em>Existing Home Sales Report </em></a>from the<em> National Association of Realtors </em>(NAR) shows housing supply is still astonishingly low. <strong>Today, we have a 2.6-month supply</strong> of homes at the current sales pace. Historically, a <strong>6-month supply is necessary for a ‘normal’ or ‘neutral’ market</strong> in which there are enough homes available for active buyers <em>(see graph below)</em>:<a href="https://files.simplifyingthemarket.com/wp-content/uploads/2021/08/16121318/20210817-MEM-Eng-1.png"><img alt="What Does Being in a Sellers’ Market Mean? | Simplifying The Market" class="aligncenter wp-image-44962" decoding="async" height="366" loading="lazy" sizes="auto, (max-width: 650px) 100vw, 650px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2021/08/16121318/20210817-MEM-Eng-1.png" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2021/08/16121318/20210817-MEM-Eng-1.png 1000w, https://files.simplifyingthemarket.com/wp-content/uploads/2021/08/16121318/20210817-MEM-Eng-1-533×300.png 533w" width="650"/></a>When the <a href="https://www.simplifyingthemarket.com/2021/07/27/a-look-at-housing-supply-and-what-it-means-for-sellers/?a=712984-fa409495d5d70154d03a25e81e9540e2">supply of houses</a> 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 <a href="https://www.simplifyingthemarket.com/2021/06/08/in-todays-market-listing-prices-are-like-an-auctions-reserve-price/?a=712984-fa409495d5d70154d03a25e81e9540e2">their best</a> to submit a very <a href="https://www.simplifyingthemarket.com/2021/06/21/5-things-homebuyers-need-to-know-when-making-an-offer/?a=712984-fa409495d5d70154d03a25e81e9540e2">attractive offer</a>. As this happens, <a href="https://www.simplifyingthemarket.com/2021/07/06/a-look-at-home-price-appreciation-through-2025/?a=712984-fa409495d5d70154d03a25e81e9540e2">home prices rise</a>, and <a href="https://www.simplifyingthemarket.com/2021/07/12/4-major-incentives-to-sell-this-summer/?a=712984-fa409495d5d70154d03a25e81e9540e2">sellers</a> are in the best position to negotiate deals that meet their ideal terms.</p>
<p>Right now, there are many buyers who are ready, willing, and able to purchase a home. Low <a href="https://www.simplifyingthemarket.com/2021/07/19/what-you-should-do-before-interest-rates-rise/?a=712984-fa409495d5d70154d03a25e81e9540e2">mortgage rates</a> 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 <a href="https://www.simplifyingthemarket.com/2021/07/13/why-this-isnt-your-typical-summer-housing-market/?a=712984-fa409495d5d70154d03a25e81e9540e2">the market</a> while supply is still low, it will likely get a lot of attention from competitive buyers.</p>
<h3><strong>Bottom Line</strong></h3>
<p>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 <a href="https://www.simplifyingthemarket.com/2021/06/28/save-time-and-effort-by-selling-with-an-agent/?a=712984-fa409495d5d70154d03a25e81e9540e2">discuss</a> how to jumpstart the selling process.</p>
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