4 Reasons to Sell This Winter
Below are four compelling reasons to list your house this winter.
1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR)
Shows that buyer demand remains strong throughout the vast majority of the country. Buyers are ready, willing, and able to purchase, and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home. Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now Inventory is still under the 6-month supply needed for a normal housing market.
This means in the majority of the country, there are not enough homes for sale to satisfy the number of interested buyers. Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years.
There is a pent-up desire for many homeowners to move since they were unable to sell over the last few years due to negative equity situations. As home values continue to appreciate and homeowner equity grows, more and more homeowners will be given the freedom to move. Many homeowners were reluctant to list their homes over the last couple of years, for fear they would not find a home to move into. That's all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase with new construction, too. Don’t wait until additional inventory comes to market this spring.
3. Buyers Are Serious At This Time of Year
Traditionally, homeowners think about spring as a great time to list their homes, when more buyer traffic may be out there actively searching. In the winter, however, the buyers who are seeking a home – whether for relocation purposes or otherwise – are serious ones. They’re ready to make offers and they’re eager to move, often quickly. Your house may be exactly what they’re looking for, so listing now while other potential sellers are holding off may be your best opportunity to shine.
4. There May Never Be a Better Time to Move Up
If your next move will be into the premium or luxury market, now is a great time to move up. There is currently ample inventory for sale at higher price ranges. This means if you're planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that now. Demand for your entry-level or middle-tier home is high, and inventory in the luxury or premium market is too.
According to CoreLogic, prices are projected to appreciate by 5.6% over the next year. If you’re moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and in your mortgage) if you wait.
Bottom Line
Selling your house and moving up sooner rather than later could lead to substantial savings and may end up being your best option in the current market.
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