One of the biggest questions in real estate today is, “When will sellers return to the housing market?” A short supply of homes has created a hyper-competitive environment for hopeful buyers, leading to the ultimate sellers’ market not seen in decades. We are seeing homes come to market and go under contract in a matter of hours. And those that don’t go in hours will see multiple offers come in that, well…to say it plainly…make sellers very happy to have made the decision to list at this time. However, as the economy continues to improve and more people get vaccinated, more sellers may finally be in sight causing the market to shift.

The Home Purchase Sentiment Index (HPSI) by Fannie Mae recently noted the percentage of consumer respondents who say it’s a good time to sell a home increased from 61% to 67%. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, indicates:

“Consumer positivity regarding home-selling conditions nearly matched its all-time high.” (See graph below):

Fannie Mae isn’t the only expert group noticing a rise in the percentage of people thinking about selling. George Ratiu, Senior Economist at realtor.com, shares:

“The results of a realtor.com survey . . . showed that one-in-ten homeowners plans to sell this year, with 63 percent of those, looking to list in the next 6 months. Just as encouragingly, close to two-thirds of sellers plan to sell their homes at prices under $350,000, which would offer a tremendous boost to affordable housing for first-time buyers.”

Bottom Line

If you’re considering selling your house, don’t wait for more competition to pop up in your neighborhood. Let’s connect today to explore the benefits of selling your house now before more homes come to the market.

Check out our home value analysis for the specific possibilities on your home, and check out our recent Market Update for your area to give you a general look at what’s happening in your city. I appreciate you looking us up, and letting us be your information source for anything you may have a question about or need help with. We love people, and we love properties. Just reach out and call us at (503) 729-9735 to get in touch.

Cheers,

Michael Jester
Oregon Licensed Real Estate Broker

My Real Estate Advisor Team

(503) 729-9735 Direct
michaelj@myreateam.com
www.myreateam.com