If you are seeking to sell a real property, it is important to know the current real estate market to determine whether now is a good time to sell.
If the current real estate market is favorable for selling a property, it is considered a seller's market. If the current real estate market is favorable for buying a property, it is considered a buyer's market. Below are some of the key real estate market indicators.
Key Real Estate Market Indicators | ||||
Indicator | Seller's Market | Buyer's Market | Current Market | |
---|---|---|---|---|
Employment | High | Low | High | |
Mortgage Interest Rates | Low | High | Low | |
Consumer Confidence | High | Low | High | |
Quantity of Homes For Sale | Low | High | Low | |
Quantity of Financially Distressed Properties | Low | High | Low | |
Days to Sell a Property | Low | High | Low | |
Conclusion: Based on the market indicators, the current real estate market is a seller's market, making it a favorable time to sell a home. |
Examine the graph below and imagine that it is the graph of the stock price of a company spanning 29 years. Look at the top right of the graph. Do you think now is a good time to buy or sell this stock? The graph shows that in June 2019, the price was at its highest point, making it a good time to sell the stock. If you had owned this stock for several years, you could sell at the current time and realize a significant profit.
Now look at the graph below which shows the San Diego County median used house sales price over the last 29 years.
Do you think now is a good time to buy or sell a house?
San Diego house prices are at an all-time high, making it a favorable apportunity to sell at a profit.