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Is Now a Good Time to Sell Your Home? YES!

Share

Is Now a Good Time to Sell Your Home? YES!

Briana Perrino-Barrett

Briana oversees our marketing department and provides one-on-one coaching sessions and regular training on our internal marketing technology and best ...

Briana oversees our marketing department and provides one-on-one coaching sessions and regular training on our internal marketing technology and best ...

Jul 15 3 minutes read

The advantageous conditions for today’s sellers are just too good to pass up. Check out our top four reasons why right now is a great time for you to list your home.

Sky High Demand

Buyer demand is incredibly high. The record-low mortgage interest rates are a huge driving factor in this momentum. Millennials, currently the largest generation in the U.S., are now at an age where they are getting married and having kids, which are two huge drivers towards homeownership. Homes are going under contract just as quickly as they are coming to the market, and we continue to see an unprecedented rate of absorption as the weeks continue.

Low Housing Inventory

There are not enough homes on the market to meet today’s buyer demand. The National Association of Realtors (NAR) reported that the actual number of homes currently for sale stands at 1.28 million, which is down 22% from one year ago. With inventory being this low, homeowners have the opportunity to negotiate the best possible contracts with buyers that are feeling that tug of intense competition between other buyers.

Buyers are making competitive, multiple offers on properties left and right! According to data pulled from ShowingTime, Realtor.com, and NAR, three or more offers are received per listing on average. This provides sellers the opportunity to sell at the price they want and negotiate the best possible terms.

Rapid Appreciation

Home values are appreciating rapidly due to the supply and demand issue. A recent report from the Federal Housing Agency states that U.S. home prices rose 7.8% over the course of 12-months (ending September 2020). This was the fastest climb in more than a decade. With appreciation being so strong, now would be the best time to consider listing your home to earn the greatest return on your investment.

Growing Equity

Home equity, the current value of your home minus your mortgage balance, is what helps you build wealth. CoreLogic stated that the average equity homeowners have gained since last year is $17,000. Plus, over 38% of owner-occupied housing units are mortgage-free, according to Census Bureau data.

Now is the time to take advantage of these favorable conditions and make a move into your dream home.

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