If you have been contemplating selling your home, taking action could be a great move—there are many advantages of selling your now. While many people think that the last couple of months of the year aren’t the best time to sell a home, that logic certainly doesn’t stand true given the current real estate climate.
Low Mortgage Rates
Mortgage rates are still low, but there are indications that these rates could increase in the coming months. With mortgage rates down, more buyers will be in the market to purchase a home. This is especially true if the buyer has been watching mortgage rates and is confident that they could be facing higher rates after the new year. Additionally, current rates for a 30-year fixed mortgage are about 4%, but if rates do continue to go up, housing prices could drop. If you want to get the best price for your home, now might be the time to act.
Rising Job Market
Another excellent reason to consider selling before the end of the year is the fact that unemployment rates are falling and the job market is on the rise. With increased consumer confidence, more buyers will decide to make the transition from renter to homeowner, ensuring a larger pool of potential buyers. It is best to take advantage of this rising market while you can!
Lastly, with more buyers feeling confident in the economy and turning to home ownership, the current inventory of real estate is dwindling. Of course, with less competition, homeowners could see multiple offers on their home. If the price is right, many homeowners will also have the added benefit of a quick sale. With fewer homes on the market, many buyers are feeling the need to move quickly. Pricing your home strategically could help you sell quickly. This will allow you to move forward with your relocation plans or needs, or find your dream home.
Contact us if you would like to list your home, or if you are in the market for a new one!