{"id":930,"date":"2020-07-08T20:36:29","date_gmt":"2020-07-08T20:36:29","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=930"},"modified":"2020-07-08T20:36:29","modified_gmt":"2020-07-08T20:36:29","slug":"best-time-sell-competition-time-low","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/best-time-sell-competition-time-low\/","title":{"rendered":"Best Time to Sell? When Competition Is at an All-Time Low"},"content":{"rendered":"
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Best Time to Sell? When Competition Is at an All-Time Low<\/p><\/div>\n

In a\u00a0recent survey<\/a>\u00a0of home sellers by\u00a0Qualtrics<\/em>, 87% of respondents said they were concerned their home won\u2019t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are \u201cseriously worried.\u201d 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.<\/p>\n

The latest\u00a0Existing Home Sales Report<\/a>\u00a0published by the\u00a0National Association of Realtors<\/em>\u00a0(NAR) revealed that 340,000 single-family homes sold in this country last month. NAR\u2019s most recent\u00a0Pending Sales Report<\/a>\u00a0(homes going into contract) surpassed last month\u2019s number by over\u00a044%<\/a>, which far exceeded analysts\u2019 projections of 15%.\u00a0ShowingTime<\/em>\u00a0reported<\/a>\u00a0that 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.<\/p>\n

While buyer activity is surging, the number of listings has fallen to an all-time low.\u00a0Zelman Associates,<\/em>\u00a0in their latest\u00a0residential real estate report<\/a>, 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.<\/p>\n

Bidding Wars Heating Up Again<\/strong><\/h4>\n

With buyer demand growing and the supply of available homes shrinking, purchasers are again finding themselves needing to outbid other buyers. NAR, in a\u00a0recent blog post<\/a>, revealed:<\/p>\n

\u201cOn average, there were about three offers on a home that closed in May, up from just about two in April 2020 and in May 2019 (2.3 offers).\u201d<\/em><\/p><\/blockquote>\n

Bidding wars guarantee houses sell quickly at a price near or even slightly over the listing price.<\/p>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019re thinking of selling, don\u2019t be concerned about putting your house on the market right now. There\u2019s no better time to sell an item than when demand for it is high and supply is low. It is exactly at that time when you will negotiate your best possible deal.<\/p>\n

 <\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
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THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

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