Here are 5 compelling reasons listing your home for sale this summer makes sense.
1 . Demand Is Strong
The latest opens in a new window Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, prepared, and able to purchase… and are on the market right now! More often than not, multiple buyers are usually competing with each other for the same home.
Take advantage of the buyer activity presently in the market.
second . There Is Less Competition Now
Housing opens in a new window inventory is still beneath the 6-month supply needed for a normal housing industry. This means that, in most of the country, you can find not enough homes for sale to satisfy the number of buyers.
Historically, the average period of time a homeowner opens in a new window remained in his or her home was six, but that number has hovered between nine and ten years since 2011. Many house owners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As house values continue to appreciate, more and more house owners are granted the freedom to advance.
Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait till additional inventory comes to market before you to decide to sell.
3. The Process Will Be Faster
Today’s competing environment has forced buyers to accomplish all they can to stand out from the particular crowd, including getting pre-approved for his or her mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling procedure much faster and simpler. According to Ellie Mae’s latest opens in a new window Origin Insights Report , the time to close a loan has dropped to 43 days. (Last numbers available. )
4. There Will In no way Be a Better Time to Move Up
If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these types of higher price ranges has created a buyer’s market. This means that if you are planning on selling a starter or trade-up house, it will sell quickly, AND you’ll be able to find a premium home to call your own!
According to opens in a new window CoreLogic , prices are projected to appreciate by 4. 8% over the next year. If you are moving to a higher-priced house, it will wind up costing you more in raw dollars (both within down payment and mortgage payment) in case you wait.
five. It’s Time to Move on with Your Lifestyle
Look at the reason you decided to sell in the first place plus determine whether it is worth waiting. Is definitely money more important than being with family? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to questions. You have the power to take power over the situation by putting your home on the market. Perhaps the time has come for you as well as your family to start living the life you wish.
That is what is truly important.
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