Competition is Coming, Are You Thinking of Selling Your Home?

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The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development , the number of these permits were up 7.4% over last year.

How will this impact buyers?

Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:

How will this impact sellers?

Today, because of the tremendous lack of inventory, a seller can expect:

  1. A great price on their home as buyers outbid each other for it
  2. A quick sale as buyers have so little to choose from
  3. Fewer hassles as buyers don’t want to “rock the boat” on the deal

With an increase in competition, the seller may not enjoy these same benefits. As ChiefEconomist Nela Richardson, added:

Bottom Line

If you are considering selling your house, you’ll want to beat this new competition to market to ensure you get the most attention for your listing and the best price.

Jamie West

Jamie West

Jamie West is the Broker/Owner of West Real Estate Group in Tampa Florida. She has helped buyers and sellers for 14 years achieve their goals.

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