5 Reasons to Sell Your House This Summer
Here are 5 compelling reasons listing your home for sale thissummer makes sense.
1. Demand Is Strong
The latest Buyer TrafficIndex from the National Association ofRealtors (NAR) shows that buyer demand remains strongthroughout the vast majority of the country. These buyers areready, willing, and able to purchase… and are in the marketright now! More often than not, multiple buyers are competing witheach other for the same home.
Take advantage of the buyer activity currently in themarket.
2. There Is Less Competition Now
Housing inventory is still under the 6-month supplyneeded for a normal housing market. This means that, in most of thecountry, there are not enough homes for sale to satisfy the numberof buyers.
Historically, the average number of years ahomeowner stayed in his or her home was six, but thatnumber has hovered between nine and ten years since 2011. Manyhomeowners have a pent-up desire to move, as they were unable tosell over the last few years due to a negative equity situation. Ashome values continue to appreciate, more and more homeowners aregranted the freedom to move.
Many homeowners were reluctant to list their home over the lastcouple of years for fear that they would not find a home to move into. That is all changing now as more homes come to market at thehigher end. The choices buyers have will continue toincrease. Don’t wait until additional inventory comes tomarket before you to decide to sell.
3. The Process Will Be Quicker
Today’s competitive environment has forced buyers to doall they can to stand out from the crowd, including gettingpre-approved for their mortgage financing. Buyers know exactly whatthey can afford before home shopping. This makes the entire sellingprocess much faster and simpler. According to EllieMae’s latest Origination InsightsReport, the time to close a loan has dropped to 43days. (Last numbers available.)
4. There Will Never Be a Better Time to MoveUp
If your next move will be into a premium or luxury home, now isthe time to move up! The inventory of homes for sale at thesehigher price ranges has created a buyer’s market. This meansthat if you are planning on selling a starter or trade-up home, itwill sell quickly, AND you’ll be able to find a premium hometo call your own!
According to CoreLogic, prices are projected toappreciate by 4.8% over the next year. If you are moving to ahigher-priced home, it will wind up costing you more in raw dollars(both in down payment and mortgage payment) if you wait.
5. It’s Time to Move on with YourLife
Look at the reason you decided to sell in the first place anddetermine whether it is worth waiting. Is money more important thanbeing with family? Is money more important than having the freedomto go on with your life the way you think you should?
Only you know the answers to these questions. You have the powerto take control of the situation by putting your home on themarket. Perhaps the time has come for you and your family to startliving the life you desire.