Now Is a Great Time to Sell Your Home

Now is a great time to sell your home! With a killer combo of low rates and low inventory, sellers can expect to remain in the driver’s seat for the foreseeable future and housing market experts are predicting a year of high demand and rising home prices. Here are the top 6 reasons you should sell your home now.

Reason #1 - Interest rates are expected to rise.

The average interest rate hit record lows in 2021, but most experts are predicting a gradual rise through the end of this year and into 2022. Freddie Mac’s forecast for a 30-year fixed home loan would rise to around 3.8% by the end of 2022. Inflation is on the rise and historically speaking, mortgage rates tend to rise along with inflation. The current economic growth period could also contribute to upward pressure on consumer interest rates and borrowing costs. The projected jump will make buyers more motivated to buy your home sooner than later.

Reason #2 - Pickings are slim for buyers.

Low inventory means that for buyers, the best homes will likely be snatched up fast. For sellers however, since your home will be one of the (relatively) few listed on the market, you could be in the driver’s seat. So, enjoy possibly picking the best offer and moving at a pace that best suits your terms & timeline.

Reason #3 - First-time buyers have options.

First-time buyers still comprise roughly 1/3 of the total homebuyers in the U.S. Ultra-low interest rates, among other factors, are fueling more first-timers to make the leap into home ownership. This group also has the tech-smarts and the tools to do all or part of their purchase online, sometimes even before seeing their new homes in person. With Social Media, it is now easier than ever before to feature your home in front of a large audience of potential buyers.

Reason #4 - Millennials are coming to our market.

63% of millennials (now the largest U.S. population segment) plan on purchasing a home within the next year according to a recent Realtor.com survey. A large percentage of this group is reaching the prime of their careers, creating a massive influx of potential buyers seeking turnkey move-in opportunities.

Reason #5 - Work-from-home is trending.

Many households have made the transition to a work-from-home environment. This, combined with rising rent costs in urban areas and a desire to work in a comfortable environment, is producing buyers looking to work from home, and what better place to work from than the place where people love to vacation.

Reason #6 - Home prices are still rising.

Towards the end of 2020, existing home prices grew by a whopping 15% compared to 2019. This marked more than 100 straight months of year-over-year price gains according to the National Association of Realtors. So far, 2021 has seen similar gains, with Zillow forecasting home values to end 2021 up 20.3% from December 2020 and existing home sales expected to total 5.89 million in 2021, up 4.3% from 2020.

The buyers are there, along with the demand. To get the best offer for your home, work with an experienced real estate agent who really knows your local market. If you'd like to learn more about how your home can be sold quickly and for a healthy price, I welcome your call for a private consultation.

If you’re thinking of selling now or in the future, feel free to contact us and we will be happy to address any concerns you may have. just text or email: 954 3038885   denise@condo.net