{"id":3345,"date":"2020-09-22T08:02:19","date_gmt":"2020-09-22T15:02:19","guid":{"rendered":"http:\/\/skyrisere.com\/listings\/?p=3345"},"modified":"2020-09-22T08:02:19","modified_gmt":"2020-09-22T15:02:19","slug":"best-time-to-sell-when-competition-is-at-an-all-time-low","status":"publish","type":"post","link":"https:\/\/skyrisere.com\/listings\/2020\/09\/22\/best-time-to-sell-when-competition-is-at-an-all-time-low\/","title":{"rendered":"Best Time to Sell? When Competition Is at an All-Time Low"},"content":{"rendered":"

In a recent survey<\/a> of home sellers by Qualtrics, 87% of respondents said they were concerned their home won\u2019t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are \u201cseriously worried.\u201d That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are still very active despite the disruptions American families have experienced this year.<\/p>\n

The latest Existing Home Sales Report<\/a> published by the National Association of Realtors (NAR) revealed that 340,000 single-family homes sold in this country last month. NAR\u2019s most recent Pending Sales Report<\/a> (homes going into contract) surpassed last month\u2019s number by over 44%<\/a> , which far exceeded analysts\u2019 projections of 15%. ShowingTime reported<\/a> that appointments to see homes (both virtually and in-person) have increased in every region of the country and are up 21.4% nationwide over the same time last year.<\/p>\n

While buyer activity is surging, the number of listings has fallen to an all-time low. Zelman Associates,\u00a0in their latest residential real estate report<\/a> , revealed that housing inventory as a percentage of households has fallen to 1.2%, which is half of the long-term average and lower than any other time in our history.<\/p>\n

Bidding Wars Heating Up Again<\/h3>\n

With buyer demand growing and the supply of available homes shrinking, purchasers are again finding themselves needing to outbid other buyers. NAR, in a recent blog post<\/a> , revealed:<\/p>\n

\n

\u201cOn average, there were about three offers on a home that closed in May, up from just about two in April 2020 and in May 2019 (2.3 offers).\u201d<\/p>\n<\/blockquote>\n

Bidding wars guarantee houses sell quickly at a price near or even slightly over the listing price.<\/p>\n

Bottom Line<\/h2>\n

If you\u2019re thinking of selling, don\u2019t be concerned about putting your house on the market right now. There\u2019s no better time to sell an item than when demand for it is high and supply is low. It is exactly at that time when you will negotiate your best possible deal. Contact Skyrise Real Estate Group for additional guidance in Silicon Valley.<\/p>\n ","protected":false},"excerpt":{"rendered":"

In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won\u2019t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are \u201cseriously worried.\u201d That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home […]<\/p>\n","protected":false},"author":2,"featured_media":3346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","entry","has-media"],"yoast_head":"\nBest Time to Sell? 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