Was your Home One of the 14,904 Homes Sold Yesterday?
Do you know how many homes in America got sold yesterday? The figure is a staggering, 14,904 and these many homes are sold on an average every single day all across the country. If you have listed your property on the market and it has not sold in a month, you must take a serious look at your asking price. This is especially the case if you have received offers, but not the figure that you have set as the asking price of the property.
The important fact to keep in mind for you is that if your home is not one of these 14,904 homes, you can still hope to sell it tomorrow because there will be another 14,904 homes that will sell tomorrow. The figure is subject to change as it is the average number of homes sold every day in the country. This is a figure revealed by existing Home Sales Report from national Association of Realtors. NAR arrived at this number from the annual sale figure of 5.44 million. They divided it by 365 to get the magical figure of 14,904.
The latest Existing Home Sale Report also brings to notice an important fact. It said that there is only a 4.2 month supply of homes on the market at present. In normal housing market, there is an inventory of homes that is sufficient to last for 6 months. But in present times, there is a pretty low inventory of homes in the housing market. This indicates that many buyers have to settle for whatever is available for them in the market. Also, the inventory being low means that sellers are getting multiple offers for their properties. This is a good sign for those who want to sell their homes because they can get their asking price easily. What is more, many sellers are benefitting from low inventory in the sense that they are experiencing a bidding war between several interested buyers.
Even with homes selling in such record numbers every day across the country, there are many buyers who are not able to buy homes. This is because there are lesser number of homes on the market while the number of buyers is high.
In the end, it is fair to conclude that you need to have a second look at the asking price of your home if it has not sold when so many homes are selling every day.