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    Should I Sell My House This Year?

    Should I Sell My House This Year?

    If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Surveyfrom the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel good about selling a house now. That’s some news to get excited about!

    As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a home:Should I Sell My House This Year? | Keeping Current MattersIn the case of those with a yearly salary of $100,000 or more, the results jumped even higher, coming in at an 82% positive sentiment.

    When the study divided the outcomes by region, the results still consistently showed Americans feeling good about selling:

    • Northeast: 71% positive
    • Midwest: 76% positive
    • South: 72% positive
    • West: 81% positive

    In addition to looking at income and region, the report also divided the results by generation, as shown in the graph below:Should I Sell My House This Year? | Keeping Current MattersAs you can see, many believe that, despite everything going on in the world, it is still a good time to sell a home.

    According to NAR, the unsold inventory available today “sits at a 3.0-monthsupply at the current sales pace,” which is down from a 3.7-month supply in November. The current inventory is half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory. This is good news for sellers, as Lawrence Yun, Chief Economist at NAR, says:

    “Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”

    Bottom Line

    If you’re ready to list your home, you can feel good about the current sentiment in the market. Contact a local real estate professional today to determine the best next step when it comes to selling your house this year.

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