Is This A Good Year To Sell Our House?

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If one of the questions you are asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Survey from the National Association of Realtors® (NAR) should lift your confidence, because it correlates to the present selling sentiment in the housing market. Even with all the overload of information in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel positive about selling a house now. That’s some news to get excited about!

As the graph below displays, as of Q4 2019, 75% of people surveyed indicate that they think now is a good time to sell a home:

In the case of those with an annual income of $100,000 or more, the results surged even higher, coming in at 82% positive sentiment.

When the study divided the outcomes by region, the results still consistently showed Americans feeling good about selling:

Northeast: 71% positive

Midwest: 76% positive

South: 72% positive

West: 81% positive

Besides just looking at income and region, the report also divided the results by generation, as shown in the graph below:

As you can see, many believe that, despite everything going on in the world, it is still a good time to sell a home.

According to NAR, the unsold supply of houses available today “sits at a 3.0-month supply at the current sales pace,” which is down from a 3.7-month supply in November. The current inventory is half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory. This is decent news for sellers, as Lawrence Yun, Chief Economist at NAR, says:

“Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”

In Conclusion

If you are ready to list your home, you can feel positive about the current sentiment in the housing market. Get together today with a Licensed Real Estate Agent to figure out the best next step when it comes to selling your house this year.

Please contact Tobie Andrews Real Estate Media for all of your residential and commercial photography needs. Photos, video, and drone. Let us help you! tobieandrewsre.com