Why To Sell This Winter
If you’re trying to decide when to sell your house, there may not be a better time than this winter. Selling this season means you can take advantage of today’s strong sellers’ market when you make a move.
Win When You Sell
Right now, we’re still in a sellers’ market, which means conditions are very favorable for current homeowners looking for a change. If you sell now, data shows you can expect:
Your House Will Stand Out
While research from realtor.com indicates there are more sellers getting ready to list their homes this winter, there are still more buyers in the market than there are homes for sale. If you sell your house now, before more houses are listed, it will get more attention from serious buyers who are eager to find a home.
Your House Will Likely Get Multiple Offers
When supply is low and demand is high like it is now, buyers have to compete with each other for a limited number of homes for sale. The Realtors Confidence Index from the National Association of Realtors (NAR) shows sellers are getting an average of 3.6 offers in today’s market.
Your House Should Sell Quickly
According to the same report from NAR, homes are selling in a median of just 18 days. As a seller, that's great news for you if you’re looking for a quick process.
Win When You Move
In addition to these great perks, you’ll also win big on your next move if you sell now. CoreLogic reports homeowners gained an average of $51,500 in equity over the past year. This wealth boost is the result of buyer competition driving home prices up. You can leverage that equity to fuel a move, before mortgage rates and home prices climb more.
The longer you wait to make your move, the more it will cost you down the road. As mortgage rates rise, even modestly, it will impact your monthly payment when you purchase your next home. Waiting just a few months to move up could mean a long-term financial impact.
The good news is, today’s rates are still hovering in a historically low range. According to Doug Duncan, Senior VP and Chief Economist at Fannie Mae:
“Right now, we forecast mortgage rates to average 3.3 percent in 2022, which thought slightly higher than 2020 and 2021, by historical standards remains extremely low.”
Selling before rates climb higher means you can make your move and lock in a low rate on the mortgage for your next home. This helps you get more home for your money and keeps your payments down too. You have a fantastic opportunity to get ahead today.
Bottom Line
As a homeowner, you have a great opportunity to get the best of both worlds this season. You can truly win when you sell and when you buy. If you’re thinking about making a move, let’s connect so you have the education you need to make the best possible decision in today’s sellers’ market.
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