If you’re on the fence about selling your home this year, you may be looking for clear indicators that 2020 is ideal to sell. Well, you’re in luck because we’re using insights gleaned from real estate agents across the country to get a glimpse of the year ahead. Read on to discover some of the most significant benefits home sellers can expect in 2020.
Solid home prices
According to agents in HomeLight’s quarter four survey, sellers can expect home prices to remain level or even rise in some markets. More than half of the agents who responded — 54 percent, to be exact — believe that home prices in their markets will stay level, at least for the first six months of the year. Another 36 percent of agents predict home prices will rise in their markets, so the overall outlook for 2020 is positive. Steady home prices and even the possibility for rises in low inventory markets.
Inventory levels remain static
Real estate agents across the country are split when it comes to predicting inventory levels in 2020. While 44.4 percent of agents believe inventory levels will remain level in their markets, another 45 percent predict levels will rise. But what does this mean for sellers?
The fact that agents are almost evenly split across the board is significant because there isn’t a large faction predicting a massive turn in the market. Those markets experiencing rises in inventory won’t create a huge shift in the market, as the increase is likely to be subtle.
Expect tech to enter into the equation
Selling your home this year may get even easier if iBuying continues to gain momentum. In fact, 25.2 percent of agents believe iBuying is the tech trend that will resonate most with home sellers this year.
With so many Americans turning to online shopping, it makes sense that real estate follows the trend. iBuying simplified is buying and selling homes online. A seller can take advantage of iBuying if they need to sell their home quickly, and don’t want to be mired in the financing and paperwork process. With iBuying, sellers receive cash offers for their homes.
Both sellers and agents positive about 2020
When it comes to real estate as a whole this year, almost three-quarters of agents are optimistic about their markets this year, which is something you can feel good about, too. And if you’ve heard musings of a possible recession around the corner, you should note that only 12.2 percent of agents think we’re headed into a recession by the end of the year.
If you needed a sign to list this year rather than next, this is it: 36.2 percent of agents believe the U.S. will hit a recession by the end of 2021. In fact, a full 70 percent of agents reported not hearing any seller concerns about an impending recession, which indicates that sellers are feeling good about this year as well.
So, if you’re one of the many home sellers mulling over the possibility of selling in the next year or two, start getting your house ready for market this year. When faced with a predictable market or a great deal of uncertainty, the safer bet is to strike while the playing field is known. Happy selling!
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