When it comes to the latest news in real estate, there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the experts. Those of us in the housing market respect that buying or selling a home is a major life decision, and we offer advice based on what the data shows.

Despite what you may have read, the housing market is still undeniably strong. Here’s a look at what leading experts have to say about buyer demand today and how it continues to shape the industry:

Michael Lane, President at ShowingTime:

“In general, there are definite signs of cooling demand. However, buyer traffic is still at historically high levels compared to pre-pandemic showings.”

Odeta Kushi, Deputy Chief Economist at First American:

“Seasonally adjusted purchase applications tick up slightly to the highest level since July. Demand for homes remains strong and steady. Excluding 2020 (not a good benchmark) purchase applications are the strongest in a decade.” 

Selma Hepp, Deputy Chief Economist at CoreLogic:

“Home buyer demand pushed price growth to a new record high in June, with S&P CoreLogic national Case-Shiller Index clocking in an 18.6% year-over-year growth rate. The month-to-month index jumped 2.18%, making it another strong monthly growth, and the fastest May-to-June increase since the data series began.”

What It Means for You

As a seller, buyer demand is an important factor that helps influence how fast your house will sell and how many buyers may be competing for it. When buyers have to compete against each other for a limited supply of available homes, bidding wars can drive prices up. While things have cooled slightly since the peak of the pandemic housing rush, buyer demand is still far surpassing historical norms. That’s why we’re still in a sellers’ market.

Bottom Line

If you’re torn on whether or not you want to sell your home this year, rest assured it’s still a great time to make a move. Let’s connect to discuss how you can sell now and do it on your best terms thanks to today’s buyer demand.

If you’re on the fence about whether or not you want to sell your house this year, there’s good news. Real estate professionals are highly experienced in how to sell houses safely during the pandemic. Over the last year, agents have adopted new technologies and safety measures designed to keep you safe. And experts say these practices are here to stay. As Bob Goldberg, CEO of the National Association of Realtors (NAR), puts it:

“The pandemic has confirmed to all of us in the industry that technology will continue to transform real estate.”

Below is a closer look at some of the new tools real estate professionals are using to better serve sellers.

New and Existing Technology Are Impacting the Process

In the 2021 Realtor Technology Survey, NAR asks real estate professionals their opinions on the most valuable pieces of technology for their business over the past 12 months. The graph below highlights the top five tools those agents said are true game-changers:Tools that allow agents to serve clients at a distance and limit exposure to others, including eSignature, lockboxes, and video conferencing, became increasingly important during the last year. Those same tools are just as essential today. Restricting the number of people a seller must interact with during the process is the best way to keep all parties involved in a sale safe.

Trusted Advisors Stay Up to Date on Guidelines for In-Person Showings

As things change in our day-to-day lives, the guidance on how to stay safe changes as well. NAR regularly updates the resources available to real estate professionals to ensure the latest recommendations and best practices are readily available. This includes suggestions on how to continue to conduct safe in-person showings.

Agents also follow guidance from the Centers for Disease Control (CDC) to make sure homes are safe. The CDC’s advice includes information on how to clean high-touch surfaces like doorknobs, tables, and countertops so they’re disinfected for all.

This past year changed the way agents do things for the better. Real estate professionals use new technology, tools, cleaning procedures, and the latest guidance to meet your changing needs. The goal is to keep you safe and build your confidence throughout the sales process.

Bottom Line

It’s important to know that your safety is still a top priority when it comes to selling this year. Let’s connect today so you can have the best tools available to help you take advantage of today’s sellers’ market.

Some Highlights

• When it comes to the current housing market, there are multiple misconceptions – from what the current supply of available homes looks like to how much houses are selling for.
• It takes professionals who study expert opinions and data to truly understand the real estate market and separate fact from fiction.
• Trust the pros. If you want to understand why it’s still a good time to buy, let’s connect today.

If you're trying to decide when to sell your house, there may not be a better time to list than right now. The ultimate sellers' market we're in today won't last forever. If you’re thinking of making a move, here are four reasons to put your house up for sale sooner rather than later.

1. Your House Will Likely Sell Quickly

According to the Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly – on average, they're selling in just 17 days. As a seller, that's great news for you.

Average days on market is a strong indicator of buyer demand. And if homes are selling quickly, buyers have to be more decisive and act fast to submit their offer before other buyers swoop in.

2. Buyers Are Willing To Compete for Your House

In addition to selling quickly, homes are receiving multiple offers. That same survey shows sellers are seeing an average of 4.5 offers, and they’re competitive ones. The graph below shows how the average number of offers right now compares to previous years:Buyers today know bidding wars are a likely outcome, and they're coming prepared with their best offer in hand. Receiving several offers on your house means you can select the one that makes the most sense for your situation and financial well-being.

3. When Supply Is Low, Your House Is in the Spotlight

One of the most significant challenges for motivated buyers is the current inventory of homes for sale. Though it’s improving, it remains at near-record lows. The chart below shows how today’s low inventory stacks up against recent years. The lighter the blue is in the chart, the lower the housing supply.If you’re looking to take advantage of buyer demand and get the most attention for your house, selling now before more listings come to the market might be your best option.

4. If You’re Thinking of Moving Up, Now May Be the Time

If your current home no longer meets your needs, it may be the perfect time to make a move. Today, homeowners are gaining a significant amount of wealth through growing equity. You can leverage that equity, plus current low mortgage rates, to power your move now. But these near-historic low rates won’t last forever.

Experts forecast interest rates will rise. In their forecast, Freddie Mac says:

“While we forecast rates to increase gradually later in the year, we don't expect to see a rapid increase. At the end of the year, we forecast 30-year rates will be around 3.4%, rising to 3.8% by the fourth quarter of 2022.”

When rates rise, even modestly, it’ll impact your monthly payment and by extension your purchasing power.

Bottom Line

Don't delay. The combination of housing supply challenges, low mortgage rates, and extremely motivated buyers gives sellers a unique opportunity this season. If you’re thinking about making a move, let's chat about why it makes sense to list your house now.