mortgage technology

4 reasons you’re better off selling your house this summer [INFOGRAPHIC]

Bethany RamosHomeowners, Selling

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selling your house

Download the infographic here.

Short supply supports listing sooner

Here’s an overview of why selling your house now may be optimal:

  • Because inventory is so tight and demand is so high, buyers are competing for limited listings as homes fly off the market.
  • Housing inventory still sits far below the six-month supply threshold required to uphold a healthy market.*
  • Sellers who list may find a golden opportunity: Right now, you’re likely to sell your house quicker and at a better price.

This summer, sellers benefit from the fact that mortgage rates still hover around the rock-bottom lows seen during last year’s COVID crisis. However, rates are expected to soon rise. Continued home price appreciation is also strengthening the market and giving summertime sellers the chance to cash in on all-time-high levels of home equity.

What really sticks out about this summer is a lack of seller competition. This is a major advantage when selling your house.

It’s also the question most real estate agents and housing authorities are asking: “When will sellers start returning to the market?” Having such a shortage of homes has made the housing market even more competitive for prospective buyers, creating a strong seller’s market. Experts believe more sellers may begin to list as vaccination rates increase, while the economy continues to recover.

Fannie Mae’s recent Home Purchase Sentiment Index (HPSI) confirms this, showing that the percentage of survey respondents who think it’s an ideal time to sell rose from 61 to 67 percent. This consumer positivity related to optimal conditions for selling nearly reached its all-time peak.

Got questions? We’ve got answers. Click here to find a knowledgeable local loan officer who can help you sell fast.

Likewise, George Ratiu,’s Senior Economist, says:

“The results of a survey… showed that one-in-ten homeowners plan to sell this year, with 63 percent of those looking to list in the next 6 months. Just as encouragingly, close to two-thirds of sellers plan to sell their homes at prices under $350,000, which would offer a tremendous boost to affordable housing for first-time buyers.”

If you’ve toyed with selling your house over the past few months, know that 2021 is bound to be your year. Low rates are attracting buyers, while making it more affordable for you to move up into your dream home. Since it’s a seller’s market, you also have the upper hand. Meaning, you have the additional leverage you need to negotiate better terms on your contract when selling your house.

Buyers are currently facing stiff competition as they hunt for homes. Because of this, you can count on homebuyers being more generous and flexible in the offers they make. You, as the seller, have the unique chance to be more selective — about both the buyer you pick and whether you’d like to honor requests for contingencies, renovations, closing times, and more.

Remember, sellers do plan on re-entering the market soon. By selling now, you’ll be able to grab even more attention for your home — before other listings start popping up in your neighborhood.

As the National Association of REALTORS® (NAR) reports:*

“Properties typically remained on the market for 17 days in May, unchanged from April and down from 26 days in May 2020. Eighty-nine percent of the homes sold in May 2021 were on the market for less than a month.”

Until more sellers return, this summer is shaping up to be another white-hot season. The majority of sellers are seeing bidding wars as soon as they list their houses. Clearly, the demand is there. With fewer sellers on the market, there’s likely to be much more interest in your home than you anticipated.

We’ll get you there faster

We’ve devoted more than 30 years to refining the mortgage process. Our expedited, in-house operations enable us to cut through the red tape, getting sellers like you into a new home weeks sooner than other lenders.* From application to closing, you could be home quick.

*”Origination Insight Report.” ICE Mortgage Technology, April 2021.

For educational purposes only. Please contact your qualified professional for specific guidance.

Sources deemed reliable but not guaranteed.

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