2 Things Sellers Need To Know This Spring

2 Things Sellers Need To Know This Spring

Since much has changed in the past year, you may be wondering what the spring housing market will bring. If you intend to sell your home this season, consider the following advice from real estate professionals.

1. Correctly Priced Homes Continue to Sell

Homes that have been updated and are priced at the current market value continue to sell. Jeff Tucker, Zillow's Chief Economist, says:

“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer” (Richardson, 2023, para. 2).

The market has evolved drastically over the past year, making it imperative that you price your home appropriately. Chief Economist of Realtor.com, Danielle Hale, explains:

“With a smaller pool of buyers today and more competition from other homes on the market, homesellers will likely need to adjust their price expectations in the market this spring” (Realtor.com® February Housing Report: More Choices for Buyers as Inventory Recovery Continues at Breakneck Speed, n.d., para. 3).

While this year's spring housing market is distinct from last year's, sellers who have realistic expectations and seek the finest pricing guidance from a real estate professional are still finding success. And this is excellent news if you are considering selling. 

2. Buyers Are Still Available

Some buyers have put their plans on hold as mortgage rates have climbed and remain variable. However, there are still numerous reasons why individuals buy houses today. Bright MLS Chief Economist Lisa Sturtevant explains today's buyer's mindset:  

“For some buyers, higher mortgage rates simply means buying a home is out of the question unless home prices fall. For others, higher mortgage rates will be a hurdle but ultimately will not keep them from getting back into the market after sitting on the sidelines for months” (Pending Home Sales Crush Estimates, Rise 8.1% in January, 2023, para. 11).

That's why, if you want to sell your property this spring, it's a good idea to deal with a real estate professional who can link you with buyers who are eager to buy.

In conclusion

This spring still offers excellent opportunities for sellers.

Do you need to sell your home?

References

Richardson, B. (2023, February 16). Expect The Spring Housing Market To Be Calm, But Competitive. Forbes. https://www.forbes.com/sites/brendarichardson/2023/02/16/expect-the-spring-housing-market-to-be-calm-but-competitive/

Realtor.com® February Housing Report: More Choices for Buyers as Inventory Recovery Continues at Breakneck Speed. (n.d.). Media | Move, Inc. https://news.move.com/2023-03-02-Realtor-com-R-February-Housing-Report-More-Choices-for-Buyers-as-Inventory-Recovery-Continues-at-Breakneck-Speed

Pending Home Sales Crush Estimates, Rise 8.1% in January. (2023, February 27). US News & World Report. https:////www.usnews.com/news/economy/articles/2023-02-27/pending-home-sales-crush-estimates-rise-8-1-in-january