If you are debating whether or not to sell your home this year, you might want to consider researching why now is the best time.
Although the housing market has been crazy since the start of the pandemic, it has not slowed down. The strong demand for homes and the very limited supply of homes is still prominent. If you want to make sure you sell your home for top dollar, now is the time to do it.
The housing supply is still extremely low which means that if you put your home on the market, you are bound to see multiple offers in different shapes and sizes. Some offers may be all cash, offering way above the asking price, waiving contingencies, etc. The housing supply has actually been at the lowest we have seen in January since 2017.
Although the housing supply is at its lowest, the amount of people wanting to or planning to buy a home has definitely increased. Buyers or potential buyers are a lot more active than usual at this time of year which is a good thing to hear for sellers. The low number of homes are not stopping people from buying. Even more people are planning to buy a home this year to try and beat rising mortgage rates. Home buyers or potential home buyers are realizing that it may be now or never to get the best mortgage rate for a home and that they should act sooner rather than later.
According to the January Home Purchase Sentiment Index by Fannie Mae, 76% of consumers believe now is the right time to sell. There are significantly more buyers in the market right now than there are homes which drives the price of homes up. This is very attractive to sellers because they could possibly get more for their house than they thought possible due to people offering over asking price or bidding wars happen.
If you are planning on selling your home, the demand for houses on the market is not just increasing, it is at an extreme high right now. Take advantage of listing your house as soon as possible and be at the forefront of this very high demand of buyers. This could be in your favor and getting the money and terms that you want.
In order to get ready to sell your house, make sure you get in contact with a local real estate agent and get things moving.