Should I Sell My House In Long Island This Year?

Dated: February 1 2020

Views: 34

Should I Sell My House This Year? | MyKCM

If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Survey from the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel good about selling a house now. That’s some news to get excited about!

As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a home:Should I Sell My House This Year? | MyKCMIn the case of those with a yearly salary of $100,000 or more, the results jumped even higher, coming in at an 82% positive sentiment.

When the study divided the outcomes by region, the results still consistently showed Americans feeling good about selling:

  • Northeast: 71% positive
  • Midwest: 76% positive
  • South: 72% positive
  • West: 81% positive

In addition to looking at income and region, the report also divided the results by generation, as shown in the graph below:Should I Sell My House This Year? | MyKCMAs you can see, many believe that, despite everything going on in the world, it is still a good time to sell a home.

According to NAR, the unsold inventory available today “sits at a 3.0-month supply at the current sales pace,” which is down from a 3.7-month supply in November. The current inventory is half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory. This is good news for sellers, as Lawrence Yun, Chief Economist at NAR, says:

“Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”

Bottom Line

If you’re ready to list your home, you can feel good about the current sentiment in the market. Let’s get together today to determine the best next step when it comes to selling your house this year.

Blog author image

Anthony Atkinson

Anthony Atkinson believes your interests come first. He's experienced, energetic, and committed to your success. For most people the purchase of a home represents much more than a good financial inves....

Latest Blog Posts

Where Will I Go if I Sell My House?

Many homeowners have realized their needs have changed over the past year. Let's connect today to discuss your.

Read More

Should I Update My House Before I Sell It?

Some HighlightsIf you’re deciding whether you should make updates before you sell your house, lean on your agent to be your guide.If the market is flooded with houses for sale, updates may be

Read More

Your Home Equity Is Growing...How's Your Home Trending?

Some HighlightsIf you’re a homeowner, today’s rising equity is great news. On average, homeowners have gained $51,500 in equity since this time last year.Whether it’s funding an

Read More

How To Hit Your Homebuying Goals This Year [INFOGRAPHIC]

Some HighlightsIf you’re looking to buy a home, you may want to put these items on your to-do list to ensure you hit your goals.It’s important to start working on your credit and

Read More
Fair Housing Icon NY Fair Housing Notice