Planning to move in the new year? You might wonder if you should wait for spring, the traditional homebuying season, to sell your house. Here's why selling now could be your best move.
Benefit from Today's Mortgage Rates Mortgage rates hit a high of 7.79% last October but have since dropped to their lowest since May. This dip means you're not as tied down by your current mortgage rate, making now a more affordable time to sell. With rates decreasing, buyers who've been holding off are now keen to purchase, boosting demand for homes like yours. Freddie Mac's Chief Economist, Sam Khater, notes, "With the stabilization of rates, we see those previously hesitant due to affordability re-entering the market."
Stay Ahead of the Game Even though the demand for homes exceeds the supply, the market is beginning to see more listings. Selling now positions you ahead of others, ensuring your home gets noticed. A well-priced home could sell quickly and possibly receive multiple offers. As U.S. News points out, low inventory means sellers could command a higher price.
Capitalize on the Rising Home Values Home prices are predicted to continue their upward trend. Selling your current home and buying a new one now could be a strategic move to avoid higher prices later. Acting promptly allows you to purchase your next home before it becomes pricier.
Use Your Equity to Your Advantage Homeowners today have significant equity, with the average homeowner having over $300,000. If concerns about affordability have delayed your decision to sell, remember your equity could substantially cover the down payment on your next home.
Bottom Line Considering a move? Now might be the perfect time to sell and find your next dream home. Let's get in touch and start the process early, giving you a head start over others waiting for spring.
Thinking of selling your house and stepping into a new home? Connect with us to kickstart your moving journey ahead of the competition.