The National Association of REALTORS® recently published their Confidence Index Survey for the month of April — and unsurprisingly, the findings reveal how hot the housing market continues to be. Keep reading for the top takeaways from the NAR survey.
- Homes Typically Sold Within 17 Days
This number is down from 27 days in April 2020 and illustrates the fierceness of current buyer competition. - 25% of Sales Were All Cash
As a buyer, writing an offer that includes paying all cash gives you a distinct advantage. - Almost 50% of All Homes Sold for Over List
During the four weeks ending May 16, nearly half of all homes sold for more than the list price, showing the lengths buyers are willing to go to procure their dream home.
What does this mean for you as a buyer? First and foremost, getting all of your ducks in a row before embarking on your home search will give you a leg up in this competitive marketplace. Working with a Surterre Properties® agent, getting prequalified, and offering a hefty down payment will help you stand out from other buyers.
As a seller, this information means that if you are thinking of relocating, now may be the perfect time to obtain top dollar for your current home. Although the market is predicted to remain hot for sellers through the rest of the year, selling sooner rather than later will ensure you reap the benefits of the intense buyer demand and low inventory we’ve been seeing these past few months.
No matter what your real estate goals, your local Surterre agent will make sure you reach them. Contact us today to get started.
