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KAYE SWAINKAYE SWAIN

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Thinking of Selling Your House? Roseville Housing Often Flying Off The Market

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Thinking of Selling Your House? Now May be the Right Time

Most Housing Selling Quickly!

Inventory is arguably the biggest challenge for buyers in today’s housing market – including Roseville housing. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the sellers.

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), total housing inventory is down 18.8% from one year ago. Inventory is well below what was available last year, and the houses that do come to the market are selling very quickly.

Sam Khater, Chief Economist at Freddie Mac notes:

“Simply put, new housing supply is not keeping up with rising demand. We estimate that the housing market is undersupplied by 3.3 million units, and the shortage is rising by about 300,000 units a year. More than half of all states have a housing shortage.”

And yes! That includes our Roseville area! So putting your Roseville house on the market could be the perfect timing!

Why is Roseville housing inventory so low?

There are many reasons why it’s hard to find a home to buy today, stemming from an undersupply of newly constructed homes to sellers pressing pause on their moving plans due to the current health pandemic. One of the key factors making it even more challenging, however, is the amount of time current homeowners are staying in their homes. There has truly been a fundamental shift in the market that started about 10 years ago: people are staying put longer, and it’s contributing to the shortage of houses for sale.

In the 2019 Profile of Home Buyers and Sellers, NAR explained:

“In 2019, the median tenure for sellers was 10 years…After 2008, the median tenure in the home began to increase by one year each year. By 2011, the median tenure reached nine years, where it remained for three consecutive years, and jumped up again in 2014 to 10 years.”

As shown in the graph below, historical data indicates that staying in a home for 5-7 years used to be the norm, until the housing bubble burst. Since 2010, that length of time has trended upward, toward 9-10 years, largely due to homeowners aiming to recoup their equity:Thinking of Selling Your House? Now May be the Right TimeThankfully, with the strength the market has gained over the last 10 years, today’s homeowners are in a much better equity position. Now is a fantastic time for homeowners who are ready to make a move to break the 10-year trend and sell their houses, especially while buyer demand is so high and inventory is so low. It’s a prime time to sell.

In addition, with today’s historically low interest rates, there’s an opportunity for sellers to maintain a low monthly payment while getting more house for their money. Think: move-up opportunity, more square footage, or finding the features they’re really looking for rather than doing costly renovations. With more new homes poised to enter the market this year, homeowners ready to make a move may have a golden opportunity to do so right now.

Bottom Line For Roseville and Sacramento Area 

There are simply not enough houses for sale today in our Roseville and Sacramento area. If you’re ready to leverage your equity and jumping into the Roseville housing market, let’s connect today. It’s a great time to move while demand for homes to buy is extremely high! Check out the current homes for sale now to get an idea for prices you might be able to charge.

Contents of this article...

  • Most Housing Selling Quickly!
  • Why is Roseville housing inventory so low?
  • Bottom Line For Roseville and Sacramento Area 

Posted in: Sell home Tagged: real estate, Real Estate Market, real estate news, Roseville

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Kaye Swain REALTOR in Roseville CA real estate news and services including aging in place-multigenerational boomers and seniors old and vintage houses and first time home buyers

Hi and Welcome to KayeSwain.com.

Are you looking for homes for sale in Roseville CA and the surrounding area? I appreciate your stopping by and invite you to check out the various options available - from blog posts to inform you about this lovely Greater Sacramento Valley Area, to home searches you can set up - such as homes for sale Roseville, Lincoln, Rocklin, Granite Bay, Citrus Heights, Carmichael, Fair Oaks, etc, to fun real estate eye candy and more. And yes! This is true for residential neighborhoods, condo communities, and all of our lovely 55+ active senior retirement communities. If you have any questions about buying OR selling your home in Roseville or the surrounding Sacramento area, do give me a buzz at 916-768-0127 or email us at [email protected] We're here to help you and your family with your real estate needs.

Kaye Swain Sun City Roseville Real Estate Agent

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Contents of this article…

  • Most Housing Selling Quickly!
  • Why is Roseville housing inventory so low?
  • Bottom Line For Roseville and Sacramento Area 

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Resources for Buyers

The Ultimate Home Buyer's Guide

Resources for Boomers and Seniors

  • Seniors First Resource Guide
  • John Palley,Attorney – Certified Specialist in Estate Planning, Trust and Probate Law – offers an excellent and free book you can download as a pdf – “How to Live & Die With California Probate.”

 

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Kaye Swain Roseville Real Estate Agent, 916-768-0127, [email protected], CalBRE#01966207, with Keller Williams Realty, 548 Gibson Drive, Suite 200, Roseville CA 95678, (Each office is independently owned and operated)

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