Homeowners ready to make a move are definitely in a great position to sell today. Housing inventory is incredibly low, driving up buyer competition. This gives homeowners leverage to sell for the best possible terms, and it’s fueling a steady rise in home prices. Despite the speed and opportunity for sellers, there are still steps you can take to prep your house to shine so you get the greatest possible return.
In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. The data, however, is showing that home purchasers are still very active despite the disruptions American families have experienced this year.
Home Prices Increase Year-Over-Year Despite Expected Monthly March Sales Decline Due to Impact of COVID-19
While sales have declined, home prices are still solidly strong. The median existing-home price for all housing types in March was $280,600, up 8.0% from March 2019.
Black Friday is behind us and holiday gifts are flying off the shelves in stores and online. Unlike last year, however, there’s another type of buyer that is very active this winter – the homebuyer.