23 Mar Should I Sell My Home in the Puget Sound During the COVID-19 Pandemic?
Many panicked homeowners are asking themselves, “should I sell my home in Puget Sound during the COVID-19 pandemic? Sellers are facing uncertainty during the COVID-19 Pandemic. There is no doubt the near-term future of real estate seems uncertain. Economic growth and productivity has dramatically declined, and in some cases come to a halt. Despite these changes and uncertain times, fear should not drive your decision to sell. Everyone has a different financial position and different goals with real estate. It’s critical to get a professional opinion and review of your specific situation and goals. Depending on your goals and financial backing, we can determine if now is the time to sell by offering you an expert Sellers Consultation.
Whether or not you are looking to sell, the market has been favorable for sellers thus far. Below are some reasons why:
Positive Status of Homes for Sale at Market Price
Since the beginning of March along with the COVID-19 pandemic, there is still much positivity in the Puget Sound Real Estate market. Some homes are going under contract within a day. Other sellers are still sticking to their offer review date and getting multiple offers. This is an indication that people are still busy trying to buy their next home, while sellers are still holding on to their desired selling price.
Low Housing Inventory
The housing inventory is still low compared to the buyers on the market. While some buyers may be putting their purchases on hold, there are still buyers that are actively looking for their next property.
Interest Rates Remain Low for New Home Buyers
Trying to “time” your home to sell can be challenging. What we do know is that interest rates are still low comparatively even after they have come up some. This is still encouraging for buyers interested in your home.
Positive Buyer Activity
Overall, there has been a healthy buyer population looking for homes. While some may be on hold, the inventory has been so low, that sellers are still getting a productive response in buyers that are looking.
Current Housing Climate at the Early Stages of COVID-19
Many of us would like to have the pandemic headlines say that they are coming to an end. Unfortunately, that is not the case. What I can say is that if you are certain that you want to sell this year and need to sell, I recommend you get advice from a real estate professional to help guide you on your specific market conditions and discuss your overall goals.
Take-Aways
- Don’t panic sell.
- If you have a good house that is priced well, it will sell.
- Talk to a trusted real estate professional.
- Looking at the facts-there is overall positive activity in the real estate market.
If it comes down to the decision to sell your home right now in the Puget Sound, as a trusted Keller Williams Real Estate Agent, I can help get your home ready to sell in the event you would like to do so.
Together we can take each day at a time and get your real estate needs met.
