{"id":2379,"date":"2022-01-27T14:40:02","date_gmt":"2022-01-27T14:40:02","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2379"},"modified":"2022-01-27T14:40:02","modified_gmt":"2022-01-27T14:40:02","slug":"right-now-lifetime-opportunity-sellers","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/right-now-lifetime-opportunity-sellers\/","title":{"rendered":"Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers"},"content":{"rendered":"
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Why Right Now Is a Once-in-a-Lifetime Opportunity for Sellers<\/p><\/div>\n

If you\u2019re thinking about selling your house in 2022, you truly have a once-in-a-lifetime opportunity at your fingertips. When selling anything, you always hope for strong demand<\/strong> for the item coupled with a limited supply<\/strong>. That maximizes your leverage<\/strong> when you\u2019re negotiating the sale. Home sellers are in that exact situation right now. Here\u2019s why.<\/p>\n

Demand Is Very Strong<\/strong><\/h4>\n

According to the latest Existing Home Sales Report<\/em><\/a> from the National Association of Realtors<\/em> (NAR), 6.18 million homes were sold in 2021. This was the largest number of home sales in 15 years. Lawrence Yun, Chief Economist for NAR, explains:<\/p>\n

\u201cSales for the entire year finished strong, reaching the highest annual level since 2006<\/strong>. . . . With mortgage rates expected to rise in 2022, it\u2019s likely that a portion of December buyers were intent on avoiding the inevitable rate increases.\u201d<\/em><\/p><\/blockquote>\n

Demand isn\u2019t expected to weaken this year, either. In addition, the Mortgage Finance Forecast<\/a><\/em>, published last week by the Mortgage Bankers\u2019 Association<\/em> (MBA), calls for existing-home sales to reach 6.4 million homes this year.<\/p>\n

Supply Is Very Limited<\/strong><\/h4>\n

The same sales report from NAR also reveals the months\u2019 supply of inventory just hit the lowest number of the century. It notes:<\/p>\n

\u201cTotal housing inventory at the end of December amounted to 910,000 units, down 18% from November and down 14.2% from one year ago (1.06 million). Unsold inventory sits at a 1.8-month supply at the present sales pace, down from 2.1 months in November and from 1.9 months in December 2020.\u201d<\/em><\/p><\/blockquote>\n

The reality is, inventory decreases every year in December. That\u2019s just how the typical seasonal trend goes in real estate. However, the following graph emphasizes how this December was lower than any other December going all the way back to 1999.<\/p>\n

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Inventory of Homes Hits Record Low<\/p><\/div>\n

Right Now, Sellers Have Maximum Leverage<\/strong><\/h4>\n

As mentioned above, when there\u2019s strong demand for an item and a limited supply of it available, the seller has maximum leverage<\/a> in the negotiation. In the case of homeowners who are thinking about selling, there may never be a better time than right now. While demand is this high and inventory<\/a> is this low, you\u2019ll have leverage in all aspects of the sale of your house.<\/p>\n

Today\u2019s buyers know they need to be flexible negotiators<\/a> that make very competitive offers<\/a>, so here are a few areas that could tip in your favor when your house goes on the market:<\/p>\n