If you need assistance, please call 801-913-2463

Homeowners: Now Is A Good Time To Sell Your House

Tuesday, April 16, 2019   /   by The Workman Team

Homeowners: Now Is A Good Time To Sell Your House

Homeowners: Now Is A Good Time To Sell Your House


Homeowners: Now Is A Good Time To Sell Your House | MyKCM



Every month, the National Association of Realtors (NAR) releases their Seller Traffic Index as a part of their Realtors Confidence Index. In the latest release, NAR reported that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the country, which came in with a weak rating.


As we can see in the following table, the number of people who moved last year is half of what the rate was in the 1980s.


Homeowners: Now Is A Good Time To Sell Your House | MyKCM


This does not come as a surprise, as tenure length (the number of years someone owns a home before moving again) among existing homeowners has increased. It has risen from an average of 6 years from 1985 to 2008, up to 9.5 years over the last few years. This is shown in the graph below:


Homeowners: Now Is A Good Time To Sell Your House | MyKCM


As we can see, there is a pent-up seller demand!


What led to this change in behavior? Falling prices during the housing crisis led to many homeowners having negative equity in their home, meaning they owed more on their mortgage than the home was worth. Others were able to secure a low interest rate on their mortgage and have not been quick to obtain a new mortgage with a higher rate.


Will this trend continue?


Recently NAR reported that “69% of people believe now is a good time to sell a home.”


With a strong economy, low-interest rates, and wages continuing to rise, some homeowners will be ready to put their house on the market and move up to the home of their dreams!


Bottom Line


There is a great opportunity for sellers to take advantage of the current real estate market before new inventory comes to market. If you are considering selling your house or would like to know your options, let’s get together today to help you understand the possibilities available to you!X$


  2019, sell your house, spring selling season

My UT Real Estate Group with All American Realty
Staci Powell
3297 W Provost Cir
South Jordan, UT 84096
801-913-2463

Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of September 28, 2020. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The multiple listing information is provided by Wasatch Front Regional Multiple Listing Service, Inc. from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2020 Wasatch Front Regional Multiple Listing Service, Inc., All Rights Reserved. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Conspicuous display of the following: Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
This site powered by CINC: www.cincpro.com