Homeowners looking to maximise their return on investment often want to know what season best achieves that goal. Getting near or full asking price can be influenced by a wide range of factors, including market trends, inventory and interest rates to name a few.
It will come as good news to know there are strong indicators that this spring has unique listing advantages. That means listing a home this spring could help sellers get the price they want.
1: Inventory Remains Very Tight
The rules of supply and demand apply equally to the housing market and there are not enough homes to go around.
The single-family housing shortage has been driven by multiple factors. A large population of Millennials have entered the real estate market at a time when new home construction had been stifled for years. Simply put, the supply of new homes has significantly fallen behind the demand.
Although builders are starting to ramp up construction, the economic boom continues to position first-time buyers more quickly than the lagging supply. The real estate wild card may be how quickly construction outfits put more homes in play.
Should the building sector pivot to take advantage of higher prices, inventory could loosen in 2022. That makes this spring a prime time to maximise profitability and avoid the risk of improving supply.
2: Spring Looks Like A Seller’s Market
Although winter has forced sellers and buyers into multiple lock downs, it appears home sales did not satisfy the high demand. With fewer listings available and plenty of active buyers jumping on properties, listing this spring could put sellers in the driver’s seat.
3: Homes Are Moving Quickly
Market data shows that homes are selling at a fast pace across the country. This year, homes are selling at a staggering rate in traditionally high-priced metropolitan markets. Sellers may find the elixir they are looking for by listing this spring. Economic and market indicators point to a vibrant seller’s market flush with motivated buyers.