Wednesday, February 16, 2022 / by Raj Jaggi
When you're selling something, you normally want to make the most money possible. This occurs when there is a high demand for an item with a limited supply. That time is now in the real estate market. If you're considering selling your home this year, there are two compelling reasons to do so now.
1. There is a lot of demand.
This Winter, according to a recent report in Inman News:
“Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists. . . . ‘Home shopping season appears to already be in full swing!’”
They aren't the only ones who believe that purchasers are already out in force. ShowingTime's statistics provided last week backs up this claim. The ShowingTime Showing Index measures the average number of monthly buyer showings on active residential properties and is a very accurate predictor of current and future buyer demand patterns. The most active December in the last five years, according to the current index (see graph below):
Buyers are especially active this winter, according to the data. Last December, which was already a stronger-than-usual winter, witnessed even more showings than December 2020. Also, keep in mind that you want to sell anything when there is a high demand for it. That time has here.
NAR also calculates the current month's supply of inventory to report available listings. They go on to say:
“Months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.”
The current supply of 1.8 months is the shortest ever recorded. The following graph shows the December numbers for the last five years: