Homeowners: Now Is A Good Time To Sell Your House

Dated: April 16 2019

Views: 159

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

Every month, the National Association of Realtors (NAR) releases their Seller Traffic Indexas a part of their Realtors Confidence Index. In the latest release, NAR reported that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the country, which came in with a weak rating.

As we can see in the following table, the number of people who moved last year is half of what the rate was in the 1980s.

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

This does not come as a surprise, as tenure length (the number of years someone owns a home before moving again) among existing homeowners has increased. It has risen from an average of 6 years from 1985 to 2008, up to 9.5 years over the last few years. This is shown in the graph below:

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

As we can see, there is a pent-up seller demand!

What led to this change in behavior? Falling prices during the housing crisis led to many homeowners having negative equity in their home, meaning they owed more on their mortgage than the home was worth. Others were able to secure a low interest rate on their mortgage and have not been quick to obtain a new mortgage with a higher rate.

Will this trend continue?

Recently NAR reported that “69% of people believe now is a good time to sell a home.”

With a strong economy, low interest rates, and wages continuing to rise, some homeowners will be ready to put their house on the market and move up to the home of their dreams!

Bottom Line

There is a great opportunity for sellers to take advantage of the current real estate market before new inventory comes to market. If you are considering selling your house or would like to know your options, let’s get together today to help you understand the possibilities available to you!

Blog author image

Eduardo Marines

EDUARDO MARINES (Associate Broker) As a real estate professional, I specialize in selling residential properties. I'm fluent in Spanish and I have over two decades of experience in real estate and rel....

Latest Blog Posts

Inside Art with Michael Rose - RealPro Combines Art and Realty

88Shares Tweet ShareWednesday, June 22, 2022Michael Rose, Art ContributorIf art and home go hand in hand, then the pairing of art and realty should be a natural one. It is surprising then,

Read More

How Buying or Selling a Home Benefits the Economy & Your Community

If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a

Read More

How Sellers Win When Housing Inventory Is Low

How Sellers Win When Housing Inventory Is LowIn today’s housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell

Read More

Does Your House Have What Buyers Want?

The rise in remote work is changing what many Americans want in their homes. Many companies are choosing to delay reopening or go remote full-time, and today’s buyers are looking for

Read More