Right Now Is a Once-in-a-Lifetime Opportunity for Sellers

beautiful home facade

You’re sitting on a once-in-a-lifetime opportunity if you’re thinking about selling your home in 2022. You want to make sure that there is a high demand for the item and a limited supply and this helps maximize your leverage when you’re negotiating the sale. Right now, home sellers are in that situation – this is why.

 

Demand Is Very Strong

There were over 6.18 million homes sold in 2021 according to the latest Existing Home Sales Report of the National Association of Realtors. This year saw the most home sales in 15 years. NAR’s Chief Economist, Lawrence Yun, explains:

“Sales for the entire year finished strong, reaching the highest annual level since 2006. . . . With mortgage rates expected to rise in 2022, it’s likely that a portion of December buyers was intent on avoiding the inevitable rate increases.”

 

Supply Is Very Limited

NAR also revealed from the same sales report that the month’s supply of inventory just hit the lowest number of the century.

“Total housing inventory at the end of December amounted to 910,000 units, down 18% from November and down 14.2% from one year ago (1.06 million). Unsold inventory sits at a 1.8-month supply at the present sales pace, down from 2.1 months in November and from 1.9 months in December 2020.”

The reality is, inventory decreases every year in December due to the seasonality trend in the real estate market.

 

Right Now, Sellers Have Maximum Leverage

When there is strong demand for homes and has a limited supply of them available, the seller has maximum leverage in the negotiation. For homeowners that are thinking about selling their homes, there may never be a better time than right now. You’ll have leverage in all aspects of the sale of your home while the demand is high and the inventory is this low.

Today’s buyers understand the importance of being flexible negotiators who submit competitive offers, so here are a few points to consider when your home goes on the market:

  • Sales price that is competitive
  • The deadline is negotiable.
  • Possibility of a leaseback to give you extra time to find a place to live.
  • Offer contingencies are kept to a bare minimum.

If you are thinking of selling your Nashville – Middle Tennessee home, now’s the best time to list it. Let’s talk and have a conversation about your real estate goals. Call me at (615) 930-0313, schedule a call with me, or send me a message!