The further we get into the pandemic; the more people are starting to feel comfortable with putting their homes on the market.
As prices for homes continue to rise, people who have been hesitant before, are finally putting their homes on the market because. With the prices and demand for houses being so high, they could possibly list their house for more than originally planned which in turn is helping sellers view market conditions in a more positive way.
The percentage of people who said this is a bad time to buy decreased from 39% to 37% and people who think it is a good time, stays at 52%. When it comes to selling a home, the percentage of people in the study that do think it is a good time to sell increased from 50% to 57% and the respondents who don’t think it is a good time decreased from 42% to 33% all according to a survey conducted by Fannie Mae.
Houses are going quickly so if you put your house up in the morning, there may be a chance of an offer that same day. Low inventory shortages are still affecting the market as of right now which is the cause of houses coming off the market so quickly. Be prepared for a quick process!
The housing market is very competitive at the moment which can result in people placing bids for the house above the listing price and it is possible for a bidding war to start. Competitive markets are very common in the type of market we are in right now, a seller’s market. The amount of people looking for a home far exceeds the supply.
If you are looking to put your home on the market, be prepared for quick and quite possibly, multiple bids that exceed the listing price.