Fall is definitely here. Days are shorter, temperatures are crisp and the holidays are right around the corner. While many think the opportunity to sell their home has paused, the real estate market continues to be strong. Here are five reasons it’s not too late to sell this year.
1. Demand is still strong! 77% of people believe that now is a good time to sell a home, which is the highest percent recorded since 2015 when the Homeownership Opportunity and Market Experience Survey started from the National Association of REALTORS®. Millennials are becoming first-time home buyers and baby boomers want to downsize which has increased demand in the market.
2. There is less competition now! Housing inventory is still under the six-month supply needed to maintain a normal housing market so your home will be seen by many buyers.
3. The process will be quicker. Since the housing environment is so competitive right now, buyers need to be extremely prepared if they want to buy a home. Most buyers are pre-approved and know what they can afford before they start shopping so the entire process is done quickly!
4. Mortgage rates have stayed low which spurs people to start looking for homes at a great rate!
5. There will never be a better time to move up! If you are looking to move up into a premium or luxury home, now is the time! There is an abundance of inventory in this price range so you will have your pick of the lot.
All of this adds up to a healthy, strong housing market and the perfect time to put your home on the market! Don’t miss out on this great opportunity to sell your home for top dollar! Talk to a Shorewest, REALTOR® today about your home and what’s possible in our current market.