Now is the perfect time for homeowners to sell
As the market continues to be hot, buyers are still looking for homes at a feverish pace. As a real estate professional, you need to take advantage of this demand.
Here are some of the reasons why now is the best time for homeowners to sell their homes. Use this copy in an email, social media post, or letter.
- Buyers are buying: Sales of existing homes in October soared well past expectations, rising 4.3% compared with September and 26.6% annually.
- Historically low inventory: There were 1.42 million existing homes on the market at the end of October, a 19.8% drop compared with October 2019. At the current sales pace, that represents a 2.5-month supply, the lowest on record.
- Prices are rising: The median price of an existing home sold in October was $313,000, up 15.5% annually. That is the highest median price on record and reflects the far stronger sales on the higher end of the market.
- Rock bottom interest rates: Mortgage rates have fallen to a new all-time low and homebuyers are rushing out to take advantage, especially first-time buyers and millennials. Mortgages have averaged around 8% over the last 50 years. In early 2020 August, it dropped to a record 2.88%. Rates this low were once unimaginable.
- Bottom Line
The fact is that right now, there are dedicated, focused, motivated buyers and sellers who need to move. If you’re thinking about making a move, now is an inflection point in the market. Make the most of your equity and move on to your next dream home.
I take pride in building my business through referrals and trust. Looking for a local expert to help you navigate in the current real estate market with results? My team and I can help you through the buying and selling process, do call me at 707-567-1049.
Kasama Lee, RE/MAX Gold – American Canyon
3417 Broadway, Suite J4
American Canyon, CA 94503