Homeowners: Now Is A Good Time To Sell Your House

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

    Every month, the National Association of Realtors (NAR) releases their Seller Traffic Index as 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!

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    Alan Harling

    I relocated to Colorado from Illinois where I built a successful career in real estate representing both buyers and sellers. My success was based on building a relationship of trust and understanding with my clients, utilizing data to support actions, and implementing problem solving skills throughout the contract-to-closing process – all of which you can expect me to continue as I launch my business in Colorado. Experience as a certified Project Management Professional laid the foundation for my organization and management skills which carry over into my real estate business. Personal experience as a collegiate athlete and coach contribute to my competitive spirit. In my free time, I enjoy exploring hiking trails, spending time with my husband and three sons, and spoiling our dog Lilly.

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