In this episode I’m going to be talking about the best time to sell your home in 2021.
Historically, the best time to sell your home has been the month of June, however because of the pandemic and the uncertainty of it all it’s likely that this best time to sell has extended outward towards the rest of the year.
According to a senior economist from NAR, great sales numbers were seen for August, September and October this past year and sales jumped 27% this October from the previous October. He goes on to say that if you list your home it’s going to be snapped up quickly. In other words, if you put it on the market it’s going to be sold.
As of right now, mortgage rates are low and with the small number of houses on the market, the seller has the advantage.
Home values are up. This November they were up roughly 14% from the year before and home sales are up. In May they shot up around 44%, which was the highest jump according to the pending home sales index. Inventory is down according to Realtor.com, the housing inventory was 27% lower than it was a year earlier. Housing prices are up. In the first quarter of 2020 they were up around 7% to $224.600 and that’s for a single family home.
All in all, it’s my opinion that anytime during 2021 would be an ok time to sell your home. Of course, market conditions are not perfect, but market conditions are never perfect but I think that any time during the year of 2021 would be a good option to sell a home
Just to recap, tipically, the best time to sell your home is June, but with the pandemic that’s kinda changed. Mortgage rates are low. Home values are up. Home sales are up. Inventory is down. Home prices are up.
All of these kind of work in the seller’s benefit and therefore anytime during 2021 would be a good time to sell a home.