Savvy sellers are looking to leverage the spring selling season by listing their homes during the second week of April.
Best Time to List is Week of April 10
The second week of April delivers combined advantages for home sellers, according to a recently released report from Realtor.com.
Danielle Hale, Realtor.com’s chief economist, said in this report, “Every year, to help sellers better navigate the spring selling season, we take a look at recent market conditions to determine the optimal week to put a home on the market. And that perfect moment is just weeks away for 2022 sellers, with data indicating that home prices and demand are rising earlier than in a typical year.”
The second week of April beginning on April 10 is “the” week to list this year, according to Realtor.com.
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Advantageous Conditions for Sellers
Data that indicates advantageous conditions for sellers historically cover:
- Less demand
- Less competitive conditions
- Somewhat stable home prices
- Somewhat stable inventory levels
During 2021, homes listed during the seven-day stretch of “the best week to list” saw +29% more listing views on Realtor.com compared to an “average” week.
Iffy Conditions for Sellers
This year, however, demand and home prices have remained much higher than “normal.” Sellers could interpret those high levels of demand and home prices as reasons to expect more offers, more bidding wars, and faster sales BUT… savvy sellers will likely pay attention to three factors that are different to this year’s housing market that may negatively affect buyers’ buying power.
Simply, those three factors include…
- the highest level of inflation, 7.9%, consumers have faced in 40 years
- the fiscal policy shift by the Federal Reserve to increase mortgage interest rates +0.25% a projected seven times over 2022
- the ongoing war in Ukraine
Simply, inflationary consumer prices are taking more out of potential buyers’ incomes. Rising mortgage interest rates mean stiffer qualification requirements, larger down payments and larger monthly interest payments. How the nightmare in Ukraine does and will affect potential sellers and buyers is, at this point, unknown.
Hale said, “Homeowners who are thinking about selling this spring still have time to get ready, with the majority of recently surveyed sellers indicating that listing preparations took two to 12 weeks. Preparation (to sell) is especially important this year, since market dynamics could shift quickly along with factors like rising mortgage rates, inflation and the ongoing conflict in Ukraine.”
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Thanks to Realtor.com and MansionGlobal.
