So far 2021 has been a very influential year for the housing market. There is currently a demand for housing that is not being met. Here are just a few factors that are causing this housing shortage.
- The labor shortage has slowed down construction nationwide.
- An influx of people wanting to take advantage of record-low mortgage rates.
- There is a limited amount of land available.
- People are looking to own a home instead of renting.
Should you sell your house during this housing shortage?
The short answer is yes! From a seller’s perspective a housing shortage means there is more demand than there is supply so now is a time to sell. With housing prices at an all-time high just make sure you are ready to move because houses are selling fast.
How to take advantage of the housing shortage if your house is not ready to be listed.
Putting your house on the market can take a lot of time considering you have to prep and clean your home along with making repairs to be sure it is market-ready. Selling now means you can take advantage of this short-term housing shortage. Cash buyers will buy your home as-is and they will give you a fair cash offer. This gives you the ability to get a fair price, sell your home fast, save money on repair costs, and avoid real estate agent commission fees and closing costs.