2020-06-11
Are You Ready for the Summer Housing Market?
Are You Ready for the Summer Housing Market? | MyKCM

As the health crisis started making its way throughout our country earlier this spring, sellers have been cautious about putting their homes on the market. This hesitation stemmed primarily from fear of the spread of the coronavirus, and understandably so. This abundant caution has greatly impacted the number of homes for sale and slowed the pace of a typically busy spring real estate season. Mark Fleming, Chief Economist at First American notes:

“As more homeowners are reluctant to list their homes for sale amid the pandemic, the supply of homes available to potential home buyers continues to dwindle.”

With many states beginning a phased approach to reopening, virtual best practices and health and safety guidelines for the industry are in place to increase the comfort level of buyers and sellers. What we see today, though, is that sellers are still making a very calculated return to the market. In their latest Weekly Housing Trends Report, realtor.com indicates:

“New listings: On the slow path to recovery. Nationwide the size of declines held mostly steady this week, ping 23 percent over last year, a slight increase over last week but still an improvement over the 30 percent declines in the first half of May.”

Although we’re starting to inch our way toward more homes for sale throughout the country, the number of homes on the market is still well below the demand from buyers. In the same report, Javier Vivas, Director of Economic Research for realtor.com shares:

“Sellers have yet to come back in full force, limiting the availability of homes for sale. Total active listings are declining from a year ago at a faster rate than observed in previous weeks, and this trend could worsen as buyers regain confidence and come back to the market before sellers.”

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR) seems to agree:

“In the coming months, buying activity will rise as states reopen and more consumers feel comfortable about homebuying in the midst of the social distancing measures.”

What we can see today is that homebuyers are more confident than the sellers, and they’re ready to make up for lost time from the traditional spring market. Summer is gearing up to be the 2020 buying season, so including your house in the mix may be your best opportunity to sell yet. Interest in your house may be higher than you think with so few sellers on the market today. As Vivas says:

“More properties will have to enter the market in June to bring the number of options for buyers back to normal levels for this time of the year, nationwide and in all large markets.”

Bottom Line

If you’re ready to sell your house this summer, let’s connect today. Buyers are interested and they may be looking for a house just like yours.



The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Brandon Schuppe and or SKYDAN Real Estate Sales LLC does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Brandon Schuppe and or SKYDAN Real Estate Sales LLCwill not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
 Subscribe to RSS Feed
Welcome to our Blog!
2020-09-02
How Will the Presidential Election Impact Real Estate?

2020-06-11
Are You Ready for the Summer Housing Market?

2020-05-18
Will the Housing Market Turn Around This year?

2020-04-24
Uncertainty Abounds in the Search for Economic Recovery Timetable

2020-04-02
What the Experts Are Saying About the Future

2020-03-05
How Interest Rates Can Impact Your Monthly Housing Payment

2020-02-12
The #1 Reason to List Your House Right Now

2020-01-29
Should I Sell My Home This Year? (2020)

2020-01-24
2020 Homebuyer Checklist

2020-01-03
The 2020 Real Estate Projections That May Surprise You

2019-12-06
Millennials Are on the Move as First-Time Homebuyers 

2019-12-02
5 Reasons to Sell This Winter

2019-11-19
2 Myths Holding Back Home Buyers

2019-11-06
The #1 Reason to List Your House in the Winter

2019-10-29
Think House Prices Have Skyrocketed? Take a Look At Rent Prices!

2019-10-23
5 Important Tips That Can Help You Get Started in Your Home Search

2019-10-16
Be on the Lookout for Gen Z: The Next Generation of Homebuyers.

2019-10-01
Should You Fix Your House Up or Sell Now?

2019-09-18
7 Crucial Things You DO NOT Want to Do After Applying for a Mortgage

2019-09-06
5 Reasons Why Putting Your Home on the Market During the Fall Makes Sense

2019-08-12
Homer Glen IL Monthly Market Report For July 2019

2019-08-09
Everyone Just Calm Down

2019-08-01
July, 2019 National Real Estate Monthly Market Report




Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.