The #1 Reason To Sell Your House Today

<article class="post-197021 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-197021"><span class="entry-date">February 24, 2022</span><div class="entry-header center-block text-center"><h1 class="entry-title">The #1 Reason To Sell Your House Today</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+%231+Reason+To+Sell+Your+House+Today&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-1-reason-to-sell-your-house-today%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="The #1 Reason To Sell Your House Today | 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/2022/02/23122822/20220224-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/02/23122822/20220224-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/02/23122822/20220224-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>Almost every industry is currently struggling with supply chain disruptions. This also applies to the current U.S. housing market, where buyer demand far exceeds housing supply.<span id="more-46069"></span></p>
<p>Purchaser demand is very strong right now. The <em>National Association of Realtors</em> (NAR) just released their latest <a href="https://www.nar.realtor/newsroom/existing-home-sales-surge-6-7-in-january"><em>Existing Home Sales Report</em></a> which reveals that sales surged in January. Existing home sales rose to a seasonally adjusted annual rate of 6.5 million – an increase of 6.7% from the prior month, with sales up in all regions. However, there’s one big challenge.</p>
<h4><strong>Inventory Is at an All-Time Low</strong></h4>
<p>Because purchaser demand is so high, the market is running out of available homes for sale. The above-mentioned report states that the current months’ supply of inventory of homes for sale has fallen to 1.6 months. This prompts Lawrence Yun, Chief Economist at NAR, to say:</p>
<blockquote>
<p><em>“The inventory of homes on the market remains woefully depleted, and in fact is <strong>currently</strong> <strong>at an all-time low</strong>.”</em></p>
</blockquote>
<p>Earlier this month, <em>realtor.com</em> released their <a href="https://www.realtor.com/research/data/">inventory data</a> for January. It helps confirm this point. Here’s a graph comparing inventory levels for January over the last six years:</p>
<p><a href="https://files.simplifyingthemarket.com/wp-content/uploads/2022/02/23122820/20220224-MEM-Eng-1.png"><img alt="The #1 Reason To Sell Your House Today | Simplifying The Market" class="aligncenter wp-image-46070" decoding="async" height="488" loading="lazy" sizes="auto, (max-width: 650px) 100vw, 650px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2022/02/23122820/20220224-MEM-Eng-1.png" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/02/23122820/20220224-MEM-Eng-1.png 1000w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/02/23122820/20220224-MEM-Eng-1-400×300.png 400w" width="650"/></a></p>
<p>As the graph shows, new listings coming on the market have decreased over the last four years (<em>shown in blue in the graph</em>). The graph also reveals that carry-over inventory has plummeted in recent years. This is because listings are now sold so quickly, they don’t stay on the market long enough to carry over month-to-month (<em>shown in green in the graph</em>). In other words, homes are not staying on the market for months as they had prior to the pandemic. In the report mentioned above, NAR reveals that:</p>
<blockquote>
<p><em>“Seventy-nine percent of homes sold in January 2022 were <strong>on the market for less than a month</strong>.”</em></p>
</blockquote>
<p>Odeta Kushi, Deputy Chief Economist at <em>First American</em>, <a href="https://twitter.com/odetakushi/status/1494695509486936067">explains</a> it like this:</p>
<blockquote>
<p><em>“A higher velocity of sales (lower [Days on Market]) helps to explain a housing market characterized by both higher sales &amp; lower inventory. Many resale transactions are happening so quickly that they ‘flow’ in &amp; then out of the ‘stock’ between the fixed monthly measurement of inventory.”</em></p>
</blockquote>
<h4><strong>What Does This Mean for Sellers?</strong></h4>
<p>Anyone thinking of putting their home on the market shouldn’t wait. A seller will always negotiate the best deal when demand is high and supply is limited. That’s exactly the situation in the real estate market today.</p>
<p>Later this year, inventory (and by extension, your competition) will increase as many homeowners are waiting to put their homes on the market in the spring and early summer.</p>
<p>In addition, Len Kiefer, Deputy Chief Economist at <em>Freddie Mac</em>, <a href="https://twitter.com/lenkiefer/status/1494423003224059914">says</a>:</p>
<blockquote>
<p><em>“Housing starts start off 2022 strong, just edging out 2021 for most in January since 2006.”</em></p>
</blockquote>
<p>As these newly built homes are completed, they will also become competition for your house. This gives you a tremendous opportunity right now. <strong>Don’t wait for that increase in competition in your area.</strong> If you want to sell in 2022 and are ready to start the process, today is the day to list your house.</p>
<h3><strong>Bottom Line</strong></h3>
<p>If you’re ready to sell, let’s connect to get your house on the market while today’s inventory situation is in your favor.</p>
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