THE SUMMER MARKET IS HEATING UP. HERE’S WHAT SELLERS NEED TO KNOW
There’s no sugarcoating it. The last couple of months have been hard.
What was set to be one of the busiest spring markets in your career changed in an instant when the country was forced to hit the pause button.
But we’re starting to see the light at the end of the tunnel. Slowly but surely, life (and business) is returning to some level of normal.
There is, however, one big piece of the market that’s still playing catch up. The sellers that were ready to list back in March are holding off, putting extra pressure on an already stressed inventory situation.
The good news is: the summer market is heating up, buyer traffic is increasing, and mortgage rates are at historic lows. Your clients need to know that they could be missing out on the real estate opportunity of a lifetime.
Here are some points that can help them feel confident to sell their home this summer.
56% of homes sold in April 2020 were on the market for a month or less-NAR
The combination of low inventory and high buyer demand is creating an environment where homes are flying off the market. This is also a good indicator that while certain parts of the economy remain frozen, real estate is not one of them, and the pandemic has not slowed eager buyers from acting.
What this means for your clients
With inventory even lower now than it was before, houses that come to market standout and move fast. Sellers can anticipate a relatively quick and painless home selling experience, especially in the entry to the mid-level range where demand is highest.
The best way to communicate it
Sharing posts on social media that cover important insights like this are a great way to keep your followers informed while delivering information that helps them make the best decision for their real estate plans.
We’ve put together some great options for you to start with based on the information in this blog. You can download the free social graphics here.
Zillow recently reported a 5.9% week-over-week rise in homes being listed for sale
At the peak of the pandemic panic, most real estate markets across the country saw little to no new homes being listed for sale. But with economies slowly beginning to open back up, sellers are starting to resume their moving plans.
What this means for clients
More Americans are feeling confident that the real estate industry is strong and relatively unaffected by the economic downturn caused by the pandemic. Coupled with strong buyer demand, those choosing to sell right now are in a great position to sell quickly and for a good price.