Social Media
Summer 2014- a Sellers’ Market
August 7th, 2014 | by: SM SOLD | Posted in : New Homes, Marketing, Digital Trends
It has been revealed that summer 2014 is a great time for sellers to put their houses on the market. With historically low mortgage rates, buyers are much more willing to purchase homes. The time to sell has proven to be now- “Sixty percent of all homes in 2014 will be bought and sold from May to August” (via Huffington post). While many buyers are still in the carefree summer mode, it is important to grab their attention before they begin to focus on back to school and the changing winter weather.
Due to the increasing number of homes now on the market, buyers have more variety to choose from. The prices of homes have leveled off, making purchase beneficial for both the buyer and the seller. Making sure that your home is not priced too high is vital for attracting interest to your home- especially now with the larger amount of homes currently for sale. It is likely that it will not take long to find a buyer in the present real estate market.
Sellers appear to be remaining firm on their prices- at least for newer listings. People have felt as though they have more time for the right buyers to come along. Buyers and sellers’ confidence from the spring is certainly staying strong over the course of this summer:
-63 percent of sellers say the improving economy and their perception of motivated buyers are increasing their optimism.
-76 percent of consumers say pent-up demand will create more competition for existing homes this season.
-83 percent of buyers say they plan to buy a home sooner rather than later because they fear interest rates will rise.
Sources:
"Buyers and Sellers See Spring Buying Season Blooming into Summer: Survey," RISMedia (May 26, 2014)
http://www.huffingtonpost.com/michael-corbett/6-seller-secrets-for-this_b_5320824.html
http://realtormag.realtor.org/daily-news/2014/05/27/survey-spring-confidence-heat-summer-market
