Here are four reasons why you shouldn’t wait to sell your home.
Should you wait and sell your home in the spring? Absolutely not because doing so could cost you money. Today I want to share a couple of reasons why that is:
1. The selling season starts now. As soon as the holidays are behind us, people refocus on buying or selling their homes. The early parts of January and February are when the market starts to wind up. You don’t have to wait until June to maximize buyer activity.
2. There is less competition. Not everyone is thinking about selling their home at the start of the year, but once you get into that May or June time frame, everyone is listing their houses. Competition rises, and prices flatten. Right now, there’s low inventory and high demand, so the earlier you list, the less competition and the higher the price.
3. Demand is still high. The buyer pool might have cooled off during the holidays, but people are still looking for homes. On top of that, the buyers right now are serious and highly motivated. In the spring, you might get twice as many showings, but they might just be looking at houses more for fun than in earnest.
4. Interest rates will probably go up. When rates go up even half a percent, it reduces the buying power of people in the market and puts downward pressure on prices. We still have low supply, so we’re not sure how it will affect prices. However, you want buyers to get the best possible rate for your home, and that’s only possible right now.
If you have any questions about why you should sell now or real estate in general, feel free to call or email me or my team. We would love to help you.