Is it a Good Time to Sell a Home?
Real Estate Market Indicators
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.
Hypothetical Company Stock Chart
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 County Used House Median Price History
San Diego house prices are at an all-time high, making it a favorable apportunity to sell at a profit.
