pending real estate market crash HomesByDex.com

Do You Think It's Time To Sell?

(dated 8/15/2020) Whatever the reason people still have a need to buy and sell real estate. That doesn’t stop during the current pandemic. If you were planning on selling your home in the near future (24-36 months), you may want to act sooner than later.

All the signs are clear – a collapse of some kind is coming. And although nothing is guaranteed to happen, the probability that there will be a real estate market crash is growing stronger with each passing month of data.

While you probably feel like the timing with the current pandemic isn’t on your side, making a move is still possible. Rest assured that with technology and precautions that you can list your house and make it happen safely. And, just as important you can do it very profitably. There is market mismatch right now in your favor. There are way more buyers then there are properties for sale. If your home is in at least average/good condition, you are almost guaranteed to sell at your asking price, and there is a high likelihood that you could see offers well above that price. My point is that, if selling is in your plans, now is the time to take advantage of market conditions and cash out at toward the top.

There Is Less Competition Right Now

A survey indicates that 56% of NAR members said sellers are removing their homes from the market right now. This can definitely work in your favor. If other sellers are removing their listings, your home has a better chance of rising to the top of a buyer’s search list and being seen. Keep in mind, listings will pick up again soon, as 57% of the respondents note that sellers are only planning to delay the process by a couple of months. If you need to sell right now, don’t wait for the competition to get back into the market again.

This year, delayed listings from the typically busy spring season pushed into the summer months, caused a temporary frenzy of buying and selling, but now all that inventory is gone. There are fewer houses for sale getting sellers top dollar, due to continued demand from buyers.

Bottom Line

Homes are still being bought and sold in the midst of this pandemic. If you need to sell your house and would like to know the current status in your local market, contact me to create a safe, effective and profitable plan that works for you and your family.

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