Tuesday, February 19, 2019 / by June Quilantang
If you're thinking of selling your house this year, now is the best time to do it. The saying "the early bird catches the worm" may sound cliche, but it's on point with the law of supply and demand. A lot of sellers hold off until spring, and it's a great opportunity for others to take advantage of less competition to have the prospective buyers all to themselves.
The other listings that come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market during this season in comparison to the rest of the year? The National Association of Realtors (NAR) recently revealed the months during which most people listed their homes for sale in 2018. This graphic shows the results:
The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,520,000. That number spiked to 1,870,000 by May!
What does this mean to you?
With the national job situation improving and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for homes right now.
If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition amongst buyers. Beat the rush of housing inventory that will enter the market and list your home today!