Why Buyers Shouldn't Overlook a Fall MoveYou've been waiting for something to change before you buy. It just might not be the thing you expected…While everyone’s paying attention to
The #1 Reason to List Your House Right Now
Dated: March 1 2020
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The #1 Reason to List Your House Right Now
The success of the U.S. residential real estate market, like any other market, is determined by supply and demand. This means we need to look at how many potential purchasers are in the market versus the number of houses that are available to buy. With early 2020 housing data now rolling in, it’s quite evident there are two big stories impacting this year’s residential real estate market:
1. Buyer demand is already extremely strong
2. Housing supply is at a historically low level
Demand
ShowingTime is a firm that compiles data from property showings scheduled across the country. The latest ShowingTime Showing Index reveals how showings have increased in each of the country’s four regions for five months in a row.
Supply
Move.com also just released information indicating that the number of homes currently for sale has declined rapidly and now sits at the lowest level in almost a decade. They explained,
“National housing inventory declined 13.6 percent in January, the steepest year-over-year decrease in more than 4 years, pushing the supply of for sale homes in the U.S. to its lowest level since realtor.com began tracking the data in 2012.”
In response to these numbers, Danielle Hale, Chief Economist at realtor.com, said,
"Homebuyers took advantage of low mortgage rates and stable listing prices to drive sales higher at the end of 2019, further depleting the already limited inventory of homes for sale. With fewer homes coming up for sale, we've hit another new low of for sale-listings in January."
The decrease in inventory impacted every price range, too. Here’s a graph showing the data released by move.com:
Bottom Line
Since there’s a historic shortage of homes for sale, putting your home on the market today could drive an excellent price and give you additional negotiating leverage when selling your house. Let’s get together to determine if listing your house now is your best move.
Postscript: Currently, the average asking price of single-family homes in the 37029 zip code is $371,295.00. The median asking price (the value with an equal number of homes more and less expensive) is $377,950.00. There are just 20(twenty) single family homes currently active. Assuming current market conditions, we will sell that number in just one month.
Give us a call, we are always happy to answer questions.
Jim & Bonnie
Jim Foster
We are a husband and wife who collaborate to provide you with the support you need to realize your real estate goals. Buying a home? Let us help you find a home in in and around the Nashville area t....
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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of RealTracs Solutions as distributed by MLS Grid. Real estate listings held by brokerage firms other than Weichert, Realtors® - Big Dog Group are marked with the Internet Data Exchange Program logo or thumbnail logo and detailed information about them includes the name of the listing brokers.
