Why You Should Be Selling This Fall
It’s official, summer is ending, the kids are back in school and the holidays are quickly creeping up on us. Did you know it’s also the best time to sell your home? Home inventory has hit below historic lows, but the demand is still very strong. This means you could be missing out on a truly fantastic opportunity for you and your family.
The following 5 should be taken into serious consideration for selling your home this fall.
1. Quicker Process
It’s anticipated that an acceleration in home sales that will surpass 2007’s pace. As the pace of market heats up, lenders will be inundated with loan inquiries, resulting in longer closing-time lines. Beat the rush!
Selling now will make the process quicker and simpler.
2. Strong Demand
The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. Buyers are ready, willing and able to purchase, and are doing so right now, it’s up to you if your home is one of them.
Take advantage of the strong buyer activity currently shopping.
3. Less Competition
According to NAR’s latest reports, the inventory of homes for sale is still under a 6-month supply. As a result, most area do not have enough homes for sale to satisfy the number of shopping buyers. This is good news for home prices. However, additional inventory is heading to the market.
As builders regain confidence in the market, new construction of single-family homes are expected to climb over the next two years, reaching historic levels by 2017. Buyers unable to find their happy place within existing inventory are turning to new construction to meet there needs. Last month’s new home sales numbers show that many buyers who have not been able to find their dream home within the existing inventory have turned to new construction to fulfill their needs.
The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.
4. Time to Move On
Consider the reasons you decided to sell in the first place and decide if it is worth waiting. Is it all about the money? Convenience? Preference? Just plain happiness? What’s more important than having the freedom to go on with your life the way you think you should?
With the answers to the above questions, you have the power to take control of the situation by putting your home on the market. Has the time come for you and your family to move on and start living the life you desire.
5. No Better Time to Move Up
Are you moving up? If so, consider doing it sooner than later. Home prices are projected to appreciate by 5.3% over the next year. Waiting will wind up costing you more in overall (both in down payment and mortgage payment).
Interest rates are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.