Homeowners Now Is A Good Time To Sell Your House

Dated: 04/17/2019

Views: 60

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!

Blog author image

Donna Sundin

Put my 14+ years of experience to work for you! Buying or selling a home is one of life's biggest decisions. Making the experience smooth and enjoyable requires careful planning and expertise. If you....

Want to Advertise on this Site?

Latest Blog Posts

September By The Numbers

September by the NumbersSeptember 12th, 2019Whether you're interested in buying a home or selling your house, the current market is full of opportunity. Let's get together to explore your options

Read More

5 Reasons To Sell This Fall

Below are 5 compelling reasons listing your home for sale this fall makes sense.1. Demand Is StrongThe latest Buyer Traffic Report from the National Association of Realtors (NAR)

Read More

Americans Powerful Belief In Homeownership As An Investment

The Federal Reserve Bank (The Fed) recently released their 2019  Survey of Consumer Expectations Housing Survey. The survey reported that 65% of Americans believe homeownership is a

Read More

Rent Vs Own

Some Highlights:Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space.Whether you rent or,

Read More