Now is the perfect time for homeowners to sell in Lake Stevens, Marysville, Arlington and Snohomish

Dated: July 20 2020

Views: 90

Perfect Time to Sell in Lake Stevens

Now is the perfect time for homeowners to sell in Lake Stevens, Marysville, Arlington and Snohomish

As the post-COVID recovery starts, buyers are back looking for homes and entering the housing market.

The housing market is experiencing a mini-boom that will last, perhaps, until the end of 2020. As a real estate professional, you need to take advantage of this demand.

 

According to Stuart Miller, executive chairman of Lennar, "while many parts of the economy are still waiting to open and rebound, the housing market has proven to be resilient in the current environment".

Here are some of the reasons why now is the best time for you to invest in your marketing and show homeowners that this is the best time to sell their homes. 

Inventory is Low and Home Price is Rising

The number of homes for sale is down 31% year over year. More buyers are competing for a limited supply of homes, prompting home prices to rise.

 

Prices for existing homes jumped 7.4% in April 2020 compared to a year earlier. All four major regions of the U.S. posted annual price gains.

 

According to Geogr Ratiu, Senior Economist of realtor.com “There are still buyers in the market, but given the very limited number of properties available, buyers are willing to pay more”. 

Helpful link: https://www.nar.realtor/research-and-statistics/housing-statistics

Increase of Online Home Search

The searches for homes for sale are back up and even surpassing pre-pandemic levels. That means home seekers are active online and eager to resume their activity on the real estate market.

 

Terms such as “house for sale” and “house with garden” are in high demand.

 

Overall, searches for the term “homes for sale” have risen in every metro tracked, compared to their 2020 lows at the onset of the coronavirus outbreak in the U.S.

 

Low Mortgage Rates

Mortgage rates have fallen to a new all-time low and homebuyers are rushing out to take advantage, especially first-time buyers and millennials.

 

Mortgages have averaged around 8% over the last 50 years. In early 2020 March, it dropped to a record 3.29%, the 30-year fixed-rate average dipped to below 3% in July 2020.

 

Rates this low were once unimaginable.

The fact is that right now, there are dedicated, focused, motivated buyers and sellers who need to move. If you're thinking about making a move, now is an inflection point in the market. Make the most of your equity and move on to your next dream home.

Give us a call if you have any real estate needs,

Mike Kellogg | 425-367-2537

Sheli Kellogg | 425-293-4568

Blog author image

Mike and Sheli Kellogg

We are all about RELATIONSHIPS - RESULTS - SERVICE We are focused on providing you with the best results and service in the industry. We listen carefully to understand your real estate goals and work....

Latest Blog Posts

Homes for Sale Are Rapidly Disappearing in Lake Stevens, Marysville WA

Homes for Sale Are Rapidly Disappearing in Lake Stevens, Marysville, WAThrough all the challenges of 2020, the real estate market has done very well in Lake Stevens and Marysville, and purchasers

Read More

Looking For Home Design Inspiration for your Lake Stevens, Marysville home? 30 Free Resources For Ideas and How-To-Tips

Looking For Home Design Inspiration for your Lake Stevens, Marysville home? 30 Free Resources For Ideas and How-To-TipsOne of the joys of owning your own home in Lake Stevens, Marysville is making

Read More

4 Reasons Why the Election Won't Dampen the Housing Market in Lake Stevens, Marysville, WA

4 Reasons Why the Election Won’t Dampen the Housing Market in Lake Stevens, MarysvilleAmericans have decided who our President will be for the next four years. That decision will have a major

Read More

Why the 2021 Forecast Doesn’t Call for a Foreclosure Crisis in Lake Stevens, Marysville WA

As the current forbearance mortgage relief options come to an end, many are wondering if we’ll face a foreclosure crisis next year in Lake Stevens, Marysville. This is,

Read More