How to Better Understand the Housing Market
Every single year, there are homeowners that are trying to sell their home and they do not have success. This is a tough pill for many people to swallow because they are looking to move on from their current residence. As a matter of fact, keep in mind that this a reason why plenty of people will go out of their way to try and rent residences as opposed to buying them.
The housing market can be incredibly fickle and incredibly sour to almost everyone that enters this field. This is true for everyone but real estate agents, who are actually incredibly helpful when selling a home quickly. If you need help selling your home, there is no shame in getting help from a talented real estate agent. If you have ever wondered, why my house wont sell? Here are some tips and tricks.
As previously mentioned, the housing market can be incredibly harmful to many Americans. More often than not, people are dealing with home foreclosures or repossessions that leave them without a home. In 2016, there were 956,864 foreclosure filings and 203,108 home repossessions. If you have ever wondered, why my house wont sell? You have to look at so many different factors.
Anyone that asks why my house wont sell needs to understand there is not just one factor in this equation. There are so many little things that can play into a situation where someone ends up asking, why my house wont sell? Depending on the market, the home, the type of sale, and the asking price it can take six months or longer to sell a house when you go through a real estate agent.
In 2017, the average time it takes to close on a house is 46 days. Homeowners who need to sell quickly because of stressful life events may not be able to wait this long. Just about 560,000 homes were sold in the U.S. in 2016. In 2015, about 13.5% of the U.S. population was living in poverty.
Total American household debt reached a record $12.73 trillion as of March 2017. The average credit card debt per the United States household in 2017 is $6,662. This points to the idea that most people live with serious debt and that is why many people need help getting a mortgage when they purchase their home. Essentially, a mortgage is just a payment system that is set up for paying off a house over a long period of time.
As of 2017, there are 79.90 million mortgages in the United States. Just about 31% of people struggling to repay medical debt owe $5,000 or more. The average American moves about 12 times in their life. So there may be multiple people in the span of a week that asks themselves, why my house wont sell?
There are people who move every single year either into a new home or into a renters residence. Everyone has their own preference when it comes to where they live and so, for some people they will want a home and some people will not. Make sure you understand all of your options and choices when you go ahead with the home selling process.