it’s a super sellers market what does that mean

It’s a Super Sellers’ Market – What Does That Mean?

If you’ve given a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. This season’s super sellers’ market is the optimal time to make sure your house is available for buyers who are looking for homes to purchase.

The housing market has been hot for the past year, thanks to the stay at home and work from anywhere culture of the current pandemic. At the start of this month, 42% of homes were selling for more than their list price, according to real estate brokerage Redfin. This was 16% higher than the same period in 2020.

Inventory of houses for sale is still astonishingly low. There are about half as many homes actively listed for sale compared with this time a year ago, according to When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. Competition has ignited to the point where buyers are more likely to find themselves in bidding wars, making it essential for buyers to submit very attractive offers.

As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.

Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house. Contact your First Centennial Mortgage loan officer to learn more about the loan programs we offer to help you buy your next home.

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