Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to what you may believe, buyers are still active and plenty of homes are selling right now.
According to the National Association of Realtors (NAR), based on the pace of sales right now, just over 4 million homes will sell this year. With some simple math, let’s break down what that really means for you:
- 4.16 million homes divided by 365 days in a year = 11,397 houses sell each day
- 11,397 divided by 24 hours in a day = 475 houses sell per hour
- 475 divided by 60 minutes in an hour = about 8 houses sell each minute
So, on average, about 11,000 homes sell each day in this country.
A real estate expert can give you more information about how many houses are being sold in your neighborhood, the amazing advantages that sellers are experiencing right now, and the most important things buyers are searching for in your area. Together you’ll use this knowledge to shape how you market your house based on local trends.
Bottom Line
If you’ve been waiting to sell because you don’t think there are buyers out there, know today’s market is active. Every day you wait, around 11,000 other homeowners are selling. In the time it took you to read this, eight homes sold. When you’re ready to sell too, connect with a local real estate agent.
Shea Merritt is a licensed New Jersey real estate agent with eXp Realty, working with buyers and sellers across Middlesex, Monmouth, and Ocean counties. He grew up in Old Bridge. He writes here about the arithmetic behind a move: what a house would actually bring today, what the tax line does to a monthly payment, and how to compare offers on their terms rather than on the top number. If you are weighing a sale or a purchase, send him the address and he will run the numbers on it.