Categories Search

Why Fall is the Right Time to Sell Your Home

School has started. Leaves are changing colors. The holidays are coming. This is the perfect time to sell your house. With inventory below historic numbers and demand still strong, don’t miss out on this opportunity to sell your home.
1. Demand Is Strong
The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. With fewer homes for sale, buyers have fewer to choose from. This creates an increased demand for available homes. Buyers are ready and are looking for a home right now. Take advantage of the buyer activity currently in the market.
 
2. There Is Less Competition
If you have been waiting to sell your home, consider acting now. According to NAR, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market.
This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.
New construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017. Listing before the wave of new construction homes hits the market can put your home in a more favorable competitive position and result in a higher price.
The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.
 
3. The Process Will Be Quicker
Right now, there are fewer real estate transactions than there will be in the spring. This means a quicker process for the loans to process, and the house to get inspected. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker and simpler.
 
4. Mortgage Rates are Still Low
If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you thousands more in both down payment and mortgage payment if you wait.
According to Freddie Mac’s latest report, you can also lock-in your 30-year housing expense with an interest rate around 3.46% right now. Interest rates are projected to increase over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.
 
5. It’s Time to Move On with Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. You have the power to take control of the situation by putting your home on the market.  If you are on the fence about moving this fall, please contact us. We’d be happy to learn about your goals and how we can help you start living the life you desire. 

(Visited 44 times, 1 visits today)