In a recent forecasting article for Realtors, Lawrence Yun, VP of the National Association of Realtors Research noted that housing inventory was at an all time high. It would take 8.9 months to sell the current supply of homes at the current sales pace.
With a huge supply like that, demand for each home is very low. This is where proper pricing and staging comes in. If your home looks better than the competition, but is priced lower than the competition.....you have a much higher chance of selling quickly.
It would be just like going to a used car lot with thousands of cars for sale where many of the cars have rust spots, hideous colors, dirty interiors, and remnant clutter from the previous owner. But there's one car that looks completely maintained, is a great color, perfectly clean inside, and best of all it is priced a little bit less than all the other cars. It's a no-brainer, right? Seller's need to start making their homes "no-brainers" too!
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