Are there going to be more homes to buy this year?
If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone.
At times like this when there are so few houses for sale, it’s normal to question and wonder if you’ll actually find one to buy. The database of available properties for sale is at an all-time low, and worryingly sparse within the 3 to 4 bedroom home.
In 2020, many potential vendors decided to pause their moving plans for a number of different reasons. From health concerns about the pandemic to financial and employment uncertainty, they decided to sit tight, wait and see what 2021 brought.
Now that vaccines are being distributed, and there’s a light at the end of the COVID-19 tunnel, one would hope that both buyers and sellers will feel more comfortable stepping back into the property market.
Many of those homeowners who decided not to sell in 2020 have invested time and money into home improvements. One can see this when talking to tradesman and local retailers who have never been as busy. From kitchens and bathrooms to extensions to create home office space, money has been spent on family homes.
We are also witnessing interest rates at unprecedented levels and local Banks providing significant positivity when it comes to lending and affordability. So what a time to borrow and upgrade..
However, the biggest conversation we face on our market appraisals is many homeowners are delighted with the valuation, which has inevitably increased due to market forces and dynamics but still apprehensive about putting their property on the market without having found somewhere to move too.
Are you worried that a buyer won’t want to purchase your house and look at alternatives because you haven’t secured another home? Most buyers are very understanding and will appreciate your honesty if you’re upfront and communicate fully from the outset. In fact transparency and two way communication is key and a very important part of the Sales Team at Gaudin & Co.
Therefore, the best way to stimulate the housing market, if you are set on selling, is to put your property on the market. We will have many registered buyers waiting in the wings or within our database, that will be the ideal buyer for your home. By taking this action, you have created another property listing. Eventually if all potential sellers take the same action, this will create a more fluid property market for all.
With so few homes currently available to purchase, and a significant differential between supply and demand, your house will inevitably create interest and rise to the top of an eager purchaser’s wish list in this competitive market. Today’s high buyer activity is creating upward pressure on house prices and more multiple-offer scenarios. This makes selling even more enticing.
In Summary
Housing demand is high and supply is low, so if you’re thinking of moving, it’s a great time to do so. There are likely many buyers who are looking for a home just like yours, and there are options coming for you to find a new house too. Let’s connect today to see how you can benefit from the opportunities available with Gaudin & Co