Is Selling Your House This Year a Good Idea

 

There's little disputing that the property market is changing this season, with buyer demand slowing and the quantity of available properties increasing. However, this change provides you with some distinct advantages when selling. Here are some of the primary options available to you if you list your home this fall.

1. You can make a move with more options.

The increasing number of houses for sale is one of the major headlines right now. Since the beginning of the year, there has been an increase in housing inventory, largely because rising mortgage rates have reduced the peak frenzy in buyer demand. You might not know it, but that could work to your advantage.

You'll have more possibilities for your own home hunt if you're selling your property to move. This increases your likelihood of discovering a house that meets all of your requirements. As a result, if you've held off selling because you were concerned about finding a new home, be aware that your alternatives have expanded.

2. The number of available homes on the market remains low.

Remember that, while statistics suggest that the number of properties for sale has grown this year, housing supply remains firmly in seller's territory. A six-month supply of houses is required to be in a balanced market when there are enough homes available to match the pace of buyer demand. According to the most recent National Association of Realtors (NAR) survey, there was just a 3.3-month supply in July.

While you will have more alternatives for your personal house search, inventory remains low, which means your property will remain in demand if you price it correctly. As a result, according to the most current NAR statistics, the average property sold in July still received several bids.

3. Your equity has grown at an unprecedented rate.

The market's recent growth in property prices has most certainly increased your equity (and hence your net worth).

If you've been putting off selling because you're concerned about how rising prices will affect your future home hunt, know that your equity can assist. It might be precisely what you need to cover a big percentage (if not all) of your future home's down payment.

In conclusion, if you're considering selling your home this holiday season,  contact Vanna Siackhasone at (907) 720-4663 to get the experienced advice you need to make the best decision now.