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Homeowners: Now Is A Good Time To Sell Your Charlotte Home

Homeowners: Now Is A Good Time To Sell Your Charlotte Home

 

Each month, the National Association of Realtors (NAR) provides their Seller Traffic Index - part of their Realtors Confidence Index. NAR’s most recent report shared that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the country, which came in with a weak rating.

 

As we can see in the following table, the number of people who moved last year is half of what the rate was in the 1980s.

Number of people moving

Of course, this is nothing surprising - homeowners seem to be staying in their homes for longer periods of time. In fact, that average tenure in a home has risen from an average of 6 years from 1985 to 2008, up to 9.5 years over the last few years. *See graph below provided by KCM

Seller Tenure in Home

There you have it - pent-up seller demand!

 

What led to this change in behavior? Falling prices during The Great Recession, leading many homeowners down the negative equity path and their decision to stay put to build equity in their current homes. 

 

Will this trend continue?

Recently NAR reported that “69% of people believe now is a good time to sell a home.”  With a strong economy, incredibly low interest rates and wages continuing to rise, some homeowners will be ready to put their house on the market and move up to the home of their dreams! 

 

Another key component to the pent-up demand is the fact that 33% of our buyers during the past year have been millennials/first-time buyers. They have nothing to sell so, there’s no inventory to be freed-up as there is with upsize and downsize home sellers. 


Bottom Line

 

 

Sellers have every opportunity to take advantage of the current real estate market NOW. If you are considering selling your house or would like to know your options, let’s talk! I’d like to help you understand the possibilities available to you! Call or text me at (704) 491-3310.

 

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | Homeowners: Now Is A Good Time To Sell Your Charlotte Home

 

     

Charlotte Real Estate Team - The Maxwell House Group

 

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Charlotte NC Real Estate Agents 

 

Charlotte CRS Agent


Debe Maxwell, Realtor®/Broker/CRS

RE/MAX Executive

CharlotteBroker@icloud.com
Direct:  (704) 491-3310

 

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Comment balloon 4 commentsDebe Maxwell, CRS • May 12 2019 05:44AM

Comments

That is a great post and it is bound to inform those who want to sell, to now make the move to do so.

Posted by Sussie Sutton, UTR TEXAS Realtors - Rep for buyers and sellers. (UTR Texas Realtors) 10 days ago

Hi Sussie Sutton! It definintely is THE time to sell- at least here in the Charlotte area.

Have a great week ahead!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 10 days ago

Morning Debe.

I know in certain price ranges we really need some more inventory. For the higher priced homes, we are good for now.

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) 10 days ago

This is excellent advice to share.

Home buyers want to take advantage of the very attractive mortgage interest rates and want to move before school starts.

Posted by Roy Kelley (Realty Group Referrals) 10 days ago

Participate