If you are looking to sell your home this year, you should do it ASAP.
As anyone reading this website most likely knows, the real estate market can be fickle. It has highs, and lows. Some years are great for sellers, while others are much better if you are looking to buy.
2018 is shaping up to be a seller’s year so far. In the past few years we have seen a lot of price appreciation, coupled with a lower number of homes on the market.
According to the steadfast rules of supply and demand, this creates an ideal situation for you if you are thinking about unloading your home, because there are more potential buyers than homes, so you might be able to get more than you think. If you are on the fence however, here are a few reasons you should consider selling now!
Home prices are increasing. 2017 ended with a 5.5% increase year-over-year. We are currently at a 3.2% increase, but that still spells out the opportunity to make a profit, since homes prices are still in the green.
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Interest rates are low, which attracts more buyers. 30-year mortgage rates are at 4%, which is one of the main deciding factors that potential buyers consider in terms of making the commitment. These rates are expected to rise however, so acting now could pay off in terms of finding a quick buyer.
Millennials are finally taking the plunge. As the millennial generation turns 30, many of them are deciding to buy. According to Realtor.com, millennials could make up 43% of the total home buying market in 2018 (an increase of around 3%), so it’s a great time to unload your home onto a family that will enjoy it for years to come.
At the end of the day, only you can decide when it’s the right time to sell. As we all know though, things in the market can change at the drop of a hat, so if you have been straddling that fence, now is a great time to jump off.[ via ] [ via ]