6 Home-Selling Mistakes to Avoid
Since the start of the pandemic, the housing market has seen a turbulent evolution as many Americans start to relocate. This has allowed for a period of unique trends in the sales of homes, which stands in stark contrast to the usual, traditional methods used to sell homes. However, as the pandemic winds down, these new trends are starting to fall out of favor. It’s important for sellers to be mindful of the current state of the market and be willing to “…adjust accordingly to get the best deal possible.”
During the pandemic, it was typical for homes to be priced above whatever the market value might be. This would often even result in a bidding war, part of a larger reaction to a short supply of homes. With this no longer being the case, some experts are expecting as much as a 15% decrease in home prices over the next 18 months. Even the traditional increase in the warmer seasons of spring and summer as well.
While the pandemic market favored sellers, they will presumably need to work more to attract buyers, which is good for the latter. It might take longer time to sell a home than during the pandemic, and buyers are will not jump on the chance to buy whatever home is available. Repairs and home staging, not at all necessary during the pandemic, are now vital to selling a home.
It’s important to remember these tips and important details as the market starts to return to pre-pandemic customs. And remember to come back to our blog to find new information on the mortgage and real estate markets!
Sources: 6 Home-Selling Rules You’ve Heard Lately—and Should Actually Break (realtor.com)