Concerned About Selling?

If you live in Oklahoma is selling now a good idea? Are there multiple offers or buyers everywhere?

In a recent survey of home sellers by Qualtrics, 87% of respondents said that they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they’re seriously worried. That concern seems reasonable, considering the current condition of the economy.

The data, however, is showing that home purchasers are still very active despite the disruptions American families have experienced this year. The latest existing home sales report published by the National Association of Realtors, NAR, revealed that 340,000 single-family homes sold in this country last month.

NAR’s most recent pending sales report, homes going into contract, surpassed last month’s number by over 44%, which far exceeded analyst projections at 15%. ShowingTime reported that appointments to see homes, both virtually and in-person, have increased in every region of the country and are up 21.4% nationwide over the same time last year. While buyer activity is surging, the number of listings has fallen to an all-time low. Zelman and Associates, in their latest residential real estate report, revealed that housing inventory as a percentage of households has fallen to 1.2%, which is half of the long-term average and lower than any other time in our history.

With buyer demand growing and the supply of available homes shrinking, purchasers are again finding themselves needing to outbid other buyers. NAR, in a recent blog post, revealed, “On average, there were about three offers “on a home that closed in May, “up from just about two in April of 2020 and in May of 2019, “there was an average of 2.3 offers.” Multiple offers can guarantee that houses sell quickly at a price near or even slightly over the listing price.

If you’re thinking of selling in Bixby, 74008, Kiefer, 74041, Jenks, 74037, and Mounds, 74047, don’t be concerned about putting your house on the market right now. There is no better time to sell an item than when demand for it’s high and supply is low. It is exactly at that time when you will negotiate your best possible deal. Reach out to me to discuss your options.

Concerned About Selling?
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