If you ARE considering selling your home, you should be aware that there aren't many houses available. This is due to the fact that less sellers than usual have listed their homes for sale this season.

(Ventura County Residential STATS)
 

While there are many reasons that contribute to this trend, one element that is currently keeping inventory low is the reluctance of some homeowners to move when the mortgage rate on their present home is lower than the rate they might now obtain on their future home. It is known as rate lock.

According to a recent study by Realtor.com, 56% of those who want to sell within the next year said they're holding out for lower interest rates.

While this wait-and-see strategy may be appropriate for certain sellers, it also presents an opportunity for sellers who are more willing to act right now.

Do not pass up this opportunity to make a statement if your existing home no longer meets your needs and you are prepared to relocate. You position yourself to attract the most interest in your property feasible since buyers will have fewer alternatives if fewer sellers are offering their properties for sale. Because of the competition for the small number of available properties, your house may receive several bids, especially if you price it competitively.

As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Inventory levels are still at historic lows . . . Consequently, multiple offers are returning on a good number of properties.”

Beat the competition before it hits the market if you're ready to sell right away. If you do, your home ought to stand out and may attract several bids. Join forces with me & my amazing team to list your home for sale!