Should You Sell Your House Now or Wait?
When it comes to selling your home, timing is extremely important. If you have a plan to sell your house now, but are wondering if the timing is poor, this article should help clear up some of your questions.
Perhaps you are someone who was preparing to sell your home just before the pandemic hit and panic of the initial shutdown, or the confusion of the months to follow left you unsure of your decision. Many others have found themselves in this very situation. It is of the utmost importance to sell your home at the right time and you may be surprised to hear that there are actually many reasons to sell your home now.
Reasons to Sell Your Home Now
Selling your house fast typically translates into more money for you when closing on the sale. Thus, your time frame can really make or break it. Working with a reputable real estate agent like those profiled on Homes & Land can make all the difference for you as you navigate selling your home during the coronavirus pandemic. So, while you may not be aware of all the reasons to sell your home now, the experts at Homes & Land can help you understand the myriad benefits if you do decide to sell your home now.
There are many reasons you may be looking to sell your home now. These reasons may have even become more urgent or may have been exacerbated by the pandemic. Whatever the reason, you were likely just as shell shocked as the rest of us when the pandemic hit and caused a severe shutdown and an uncertain economy to follow. However, you may not be in a position to wait and see how the future shapes the housing market. Waiting may even be a huge detriment and cause you a good deal of financial loss.
Now more than ever, you may be feeling uncertain about the future. However, there are some things you should know about selling your home at this particular moment. If you are worried about the real estate market, take comfort in the fact that it has not taken the same hit as the rest of the economy from the pandemic. The housing market is much more stable and did not suffer greatly. Selling quickly and making money is the clear objective, but is that possible during a pandemic and in its immediate aftermath?
The real estate market is in fact holding strong even during the coronavirus pandemic. The market remains healthy for both buyers and sellers. Real estate businesses have been able to continue providing services throughout the pandemic as they are deemed essential businesses. This continuation of business has meant the market has been less vulnerable to severe breakdown.
The real estate market shifted quickly to adapt to the challenges of the pandemic. This ability to adapt has been absolutely paramount. The fact that sellers have been able to continue to sell their homes during the crisis is thanks to the shift to virtual alternatives to conducting business in person. Agents profiled on Homes & Land have been able to help their clients while ensuring their safety and reducing unnecessary social contact.
Selling your home during the pandemic means operating in a virtual environment and forgoing in-person meetings whenever possible. Despite the fact that home selling is taking on a completely new look in 2020, people have not stopped selling their homes and you should be assured that there are ample tools available for you to sell your home quickly while securing a profit.
We do not know exactly what to expect when the pandemic is over. We do not know when it will be and what changes we can expect to become permanent. Perhaps some of our practices will be changed as a result. For many, the idea of things going back to normal anytime soon seems unimaginable. That said, waiting to sell your home may actually be detrimental. We know that the housing market has been able to come out of the immediate shutdown relatively unscathed, but we cannot be certain about what is to come in 2021 and the years to come.
The real estate market is solid, but not immune to shifts. While the shifts in the real estate market are not so dramatic as the ones we see in the stock market, it does have its own ups and downs over time. So, while the coronavirus has caused great shifts in the stock market, the short-term impact on the housing market proved more stable. What we have seen following the initial outbreak of the pandemic is a reduction in the number of homes for sale overall. In March, we saw the numbers go down to 15.7 percent compared to the year prior. At the same time the median listing price nationwide grew by 3.8 percent making it a lucrative time to sell a home.