Is it a Good Time to SELL Your Tucson Home?

Dated: July 8 2020

Views: 158

Best Time to Sell in Tucson? When Listing Competition Is at an All-Time Low

Best Time to Sell? When Competition Is at an All-Time Low | MyKCM

In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are still very active despite the disruptions American families have experienced this year.

What Would A Qualified Buyer Be Willing To Pay For Your Tucson Home? Click Here to Find Out

The latest Existing Home Sales Report published by the National Association of Realtors (NAR) revealed that 340,000 single-family homes sold in this country last month. NAR’s most recent Pending Sales Report (homes going into contract) surpassed last month’s number by over 44%, which far exceeded analysts’ projections of 15%. ShowingTime reported that appointments to see homes (both virtually and in-person) have increased in every region of the country and are up 21.4% nationwide over the same time last year.

While buyer activity is surging, the number of listings has fallen to an all-time low. Zelman Associates, in their latest residential real estate report, revealed that housing inventory as a percentage of households has fallen to 1.2%, which is half of the long-term average and lower than any other time in our history.

Bidding Wars Heating Up Again

With buyer demand growing and the supply of available homes shrinking, purchasers are again finding themselves needing to outbid other buyers. NAR, in a recent blog post, revealed:

“On average, there were about three offers on a home that closed in May, up from just about two in April 2020 and in May 2019 (2.3 offers).”

Bidding wars guarantee houses sell quickly at a price near or even slightly over the listing price.

Bottom Line

If you’re thinking of selling, don’t be concerned about putting your house on the market right now. There’s no better time to sell an item than when demand for it is high and supply is low. It is exactly at that time when you will negotiate your best possible deal.

What Would A Qualified Buyer Be Willing To Pay For Your Tucson Home? Click Here to Find Out

Be sure to follow us on Instagram @SellTucson!  We post tons of great homes and have introduced a lot of people to what makes Tucson really awesome!

Like us on Facebook and be sure to catch our latest market update videos there.

Ready to start your home search?  Head on over to DarciDunn.com and start a custom search based on what YOU want!

Have any questions, just call or text me at 520-444-0344

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And follow me on webtalk.co/paul.dunn

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Darci Dunn

I began my journey in real estate in 1994 as a Wholesale Mortgage Funder and quickly rose to become the Funding Manager of a National Wholesale Mortgage Company. Having worked as a Funding Manager al....

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