3 Charts That Scream List Your Home Today

Dated: 03/22/2016

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3 Charts That Scream 'List Your Home Today' | Keeping Current Matters

In school we all learned the Theory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise.

SUPPLY

The National Association of Realtors (NAR) recently recently reported that the inventory of homes for sale stands at a 4.4-month supply. This is considerably lower than the 6-month inventory necessary for a normal market.


DEMAND Every month NAR reports on the amount of buyers that are actually out in the market looking for homes, or foot traffic. As seen in the graph below, buyer demand in February significantly outpaced the last six months . Many buyers are being confronted with a very competitive market in which they must compete with other buyers for their dream home (if they even are able to find a home they wish to purchase). Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.

HOME EQUITY

Many homeowners underestimate the amount of equity they currently have in their home. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their home. In reality,CoreLogic's latest Equity Report tells us that 72.6%  actually do!.  Many homeowners who are undervaluing their home equity may feel trapped in their current home, which may be contributing to the lack of inventory in the market.






3 Charts That Scream 'List Your Home Today' | Keeping Current Matters

Bottom Line

If you are debating selling your home this year, meet with a local real estate professional that can evaluate the equity you have in your home and the opportunities available in your market.

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John Faber

John Faber has lived in West Michigan his entire life and with strong family ties in the area, he takes his clients' needs to heart and treats them like family when helping them buy or sell a home. J....

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