Thursday, September 9, 2021 / by Katy Foster
Regardless if you are following the real estate industry, there is a good chance that you heard we were in a serious sellers’ market. But what does that really mean? And why are conditions so good for those who want to list their home?
It starts with the number of homes available for sale. A recent report from the National Association of Realtors (NAR) shows housing supply is still at an astonishingly low. Today we have about a 2.5-month supply of homes at the current sales pace. HIstorically, a six month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers.
When the supply of homes for sale is as low as it is right now, it makes it difficult for buyers to find a home to purchase. This creates an increase in competition among buyers which leads to bidding wars. And if buyers know there is a good chance of them being part of a bidding war, they are more than likely to ; ...
Friday, September 3, 2021 / by Katy Foster
As summer comes to an end, does selling your vacation home make sense right now? According to research from the National Association of Realtors (NAR), vacation home sales are up 57.2%.
If you have taken your last vacation for the summer, here are a few reasons why you should consider selling your vacation home this year:
Remote Work Continues to Drive Demand for Vacation Homes
A report from NAR says that based on continuously evolving work needs, there could be more interest in a second home than you actually think.
Recent data shows we’ll likely see a sustained increase in the rate of remote work for the next five years, which means that your vacation home could be highly sought after by certain buyers.
Selling Could Allow You To Upgrade Your Vacation Spot
When demand is high like this, so is the buyer competition. And when competition is strong, buyers will do anything and everything they can to make their offer on your vacation ho; ...