The Best Time to Sell Your House is When Others Aren’t

Attention homeowners in Columbia, SC! If you’ve been thinking about selling your house, now may be the perfect time to do so. According to recent data, the number of homes for sale is currently low, as fewer sellers are listing their houses for sale than usual. This creates an opportunity for eager sellers to stand out in the market and potentially receive multiple offers on their homes.

Looking back at every April since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph below). In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw fewer than 400,000 sellers entering the market in April (see graph below):

While there are various factors contributing to this trend, one of the main reasons for low inventory is the rate lock phenomenon. Many homeowners are reluctant to move when their current mortgage rate is lower than the rate they could get on their next house. However, for those who are ready to make a move, now is the time to seize the opportunity.

In fact, a recent survey from Realtor.com found that 56% of people planning to sell in the next year are waiting for rates to come down. By listing your home now, you can beat the competition and potentially receive multiple offers from buyers who are eager to purchase in a limited market.

As Lawrence Yun, Chief Economist at the National Association of Realtors, explains, “Inventory levels are still at historic lows . . . Consequently, multiple offers are returning on a good number of properties.”

Don’t miss out on this chance to get the most eyes on your house and potentially receive multiple offers. Contact the RMF Realty team in Columbia, SC, to get your house market-ready and make the most of the current real estate market. #SellYourHouse, #LowInventory, #MultipleOffers, #ColumbiaSCRealEstate, #RMFRealty, #RMFrealTeam,