Is Now the Right Time to Put Your House on the Market …or Not?

house-in-naples

I have noticed concern among sellers about listing their home for sale after last months Pending Home Sales Index from the National Association of Realtors.  I came across this article that I think explains the May numbers in a simple and easy to understand fashion with some graphs and flow charts to help the explanation.  I hope this helps you feel more comfortable about listing your home for sale in the coming couple of months.  We are now in the last quiet summer month of August and already starting to look ahead to the snowbirds returning in late September and October.  It is a good idea to get your home listed now so that we can do all the marketing and be prepared for the onslaught of buyers we will see as the weather cools.

This article courtesy of Keeping Current Matters July 2016:

Last month, the National Association of Realtors (NAR) released their Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings. The report revealed that this May’s numbers weren’t quite as good as the year before:

“With last month’s decline, the index reading is still the third highest in the past year, but declined year-over-year for the first time since August 2014.”

The mainstream media ran headlines highlighting that the index had dropped for the first time in two years. Many read this as an indication that the housing market must be slowing down.

If you were thinking that now may be the perfect time to put your house on the market, these reports may have caused you some concern. We want to alleviate that concern today.

Though it is true that the index dropped in last month’s report, let’s take a closer look at the numbers. Below is a graph of the index since January 2014. We can see that the index has increased every month over the last eighteen months, leading up to this past May.Is Now the Right Time to Put Your House on the Market …or Not? | MyKCM
Lawrence Yun, Chief Economist at NAR, explained that it wasn’t a slowing of the market that caused the index to slip, but instead a lack of housing inventory:

“Total housing inventory at the end of each month has remarkably decreased year-over-year now for an entire year. There are simply not enough homes coming onto the market to catch up with demand.”

Here is a graph depicting the situation Yun was referencing:Is Now the Right Time to Put Your House on the Market …or Not? | MyKCM

Bottom Line

Did the latest numbers from the Pending Home Sales Index cause you to question if now is a good time to put your house on the market? If anything, it indicated the exact opposite: that this may be the perfect time to sell!!

Call me to discuss the value of your home in our current market and when is the best time for you to enter the market to attract a buyer during the upcoming season.  Let’s get prepared now before we all get busy again and it is hard to find time to do the chores that will make your home sell more quickly.  I can help!

Remember it is always toasty in Naples and you deserve your piece of Naples sunshine and a good buyers market for your home.

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