What It Means To Be in a Sellers’ Market
If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.
The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.
Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):
When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.
As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.
Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.
Bottom Line
Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.
Beautiful Home in the city of Menifee!!! This home features a gorgeous living room with a Chimney , and a formal dinning room for family gatherings. Kitchen is gorgeous...
- 5 Beds
- 3 Baths
- IV21165376 MLS
- Coming Soon Status
An Entertainer's Delight! This house is located in the highly desired community of Murrieta .Upon entry with lots of windows that makes it a bright/open space the layout ...
- 4 Beds
- 3 Baths
- SW21168181 MLS
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Elegance at its best! Award winning Aria Plan 2 executive home in prestigious guard gated community of Greer Ranch! Panoramic views of Temecula Valley! Central courtyard ...
- 5 Beds
- 5 Baths
- OC21168504 MLS
- Coming Soon Status
* *MODEL HOME ~ MOVE-IN READY~ MOTIVATED SELLER!! BRIGHTON'S MODEL HOME Residence 2, located in the Promontory neighborhood in Murrieta. This stunning model home fea...
- 4 Beds
- 4 Baths
- SW21165970 MLS
- Active Status
Incredible Next Gen home located in the highly sought after gated community of Roripaugh Ranch. The incredible open floorplan offers 4,418 sq ft of living featuring 5 be...
- 5 Beds
- 4 Baths
- SW21168235 MLS
- Active Status
Use your imagination, see a community of million dollar, single family homes. There are comparable homes that support that value and more. Maybe you want to farm the land...
- SB21168344 MLS
- Active Status
Welcome Home to this single story beauty in the highly desirable 55+ senior community of Golf Knolls situated on Permanent Foundation! No LAND LEASE! You own the land! ...
- 3 Beds
- 2 Baths
- IG21163567 MLS
- Active Status
Quick Move-in Home at Valor in Audie Murphy Ranch! The popular Thomas plan has a ton of great features including a stunning kitchen with White Cabinets, under cabinet li...
- 4 Beds
- 4 Baths
- EV21168233 MLS
- Active Status
This 2.07 acres 3,873 sq ft single-story gem is just waiting for you! Electric Gated entry. Newer Kitchen appliances, Newer carpet in bedrooms and family room, and newe...
- 4 Beds
- 3 Baths
- SW21158174 MLS
- Active Status
Recently remodeled, this home has dual pane windows and a newer A/C unit. Kitchen has newer stainless appliances, re done cabinets, counters and a farmhouse sink. Great f...
- 3 Beds
- 2 Baths
- SW21168208 MLS
- Active Status
Beautiful Paseo Del Sol home with 5 bedrooms plus a bonus room! You are met by the beautifully landscaped front yard and covered front porch upon first arriving. Once y...
- 5 Beds
- 3 Baths
- SW21166344 MLS
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One of a kind pool home on huge lot with solar! This absolutely gorgeous 5 bedroom, 3 bath, 3 car garage home features hand scraped hard wood floors and tile in all commo...
- 5 Beds
- 3 Baths
- SW21168153 MLS
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Imagine coming home to your own newly renovated home in the renowned Paloma Del Sol neighborhood! Palomar Del Sol offers tons of outdoor amenities for families, and hosts...
- 4 Beds
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- NDP2108938 MLS
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This beautifully maintained ONE OWNER HOME on a large lot in the center of Temecula is a must see. Enjoy the private rear yard and relax in the cool shade of mature trees...
- 3 Beds
- 3 Baths
- SW21166930 MLS
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Enchant your senses at this inviting Beautiful, Move-In Ready home in one of Temecula’s most desirable neighborhoods La Serena Hills Community. This home with Stunning de...
- 4 Beds
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- SW21168097 MLS
- Active Status
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Selling Resources
Market Reports
Four Expert Views on the 2021 Housing Market
The housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect real estate to continue showing such promise? Here’s what four experts have to say about the year ahead.
Lawrence Yun, Chief Economist, National Association of Realtors (NAR)
“In 2021, I think rates will be similar or modestly higher, maybe 3%...So, mortgage rates will continue to be historically favorable.”
Danielle Hale, Chief Economist, realtor.com
“We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels.”
Robert Dietz, Senior Vice President and Chief Economist, National Association of Home Builders (NAHB)
“With home builder confidence near record highs, we expect continued gains for single-family construction, albeit at a lower growth rate than in 2019. Some slowing of new home sales growth will occur due to the fact that a growing share of sales has come from homes that have not started construction. Nonetheless, buyer traffic will remain strong given favorable demographics, a shifting geography of housing demand to lower-density markets and historically low interest rates.”
Mark Fleming, Chief Economist, First American
“Mortgage rates are expected to remain low for the foreseeable future and millennials will continue forming households, keeping demand robust, even if income growth moderates. Despite the best intentions of home builders to provide more housing supply, the big short in housing supply will continue into 2021 and likely keep house price appreciation flying high.”
Bottom Line
Whether you’re ready to buy or sell a home in 2021, if you’re planning to take advantage of the market this winter, let’s connect to talk about the opportunities available in our local market.
