As of January 2021, homes were selling twice as fast as they were the previous year. Due to this trend, many real estate experts predict that this summer could be the best time to sell a home in years.
With people seeking different lifestyles and relocating due to Covid-19, home real estate has become a seller’s market.
If you’ve been considering selling your house, now is the perfect time to make a move. Please keep reading for the top five reasons to sell your home now.
1. Homes Are in High Demand
While there are endless reasons to sell your house, knowing that homes are in high demand is why you should put yours on the market.
With a recent increase in home buyers, your property is guaranteed to get plenty of attention. The more engagement your house receives from hopeful buyers, the greater the chance of selling your home fast and avoiding the annoyance of keeping it on the market for a long time.
2. Home Inventory Remains Low
The National Association of Realtors reported the inventory of homes for sale decreased by almost 50% over the past year. Since purchase demand is so high, the market is running out of available houses.
The imbalance between high buyer demand and a low supply of homes is one of the top reasons for selling now. As a seller, you’ll have a significant advantage over potential buyers and most likely will be free to negotiate the best deal possible.
3. Get a Higher Price
With demand for homes increasing and inventory decreasing, the conditions are ideal for sellers to receive higher prices.
Not only can you ask top dollar for your home, but the excess number of interested buyers can end in a bidding war. Bidding wars often lead to homes selling for way above market value during a seller’s market.
4. Mortgage Interest Rates Are Low
Mortgage interest rates have been at a historic low over the past year. Not only is this factor pushing buyers to shop for homes, but it also is one of the most important reasons to move.
If you’re hoping to relocate or exchange your current residence for an upgrade, you’ll most likely need to take out a mortgage. While you may end up spending more money on a home, the record-low interest rates could potentially save you tens of thousands of dollars over the lifetime of the loan.
5. Your Needs Have Changed
Covid-19 has changed the way many people are living their lives. Outdoor living, home offices, more privacy, and larger spaces are becoming more important to homeowners. Even as the pandemic loses its grasp on society, your needs and interests may never go back to what they once were.
Now is the best time to take the plunge, sell your home, and find the change you’ve been searching for.
Top Reasons To Sell Your Home Now
Why do people move? Almost always because they require change.
If you’ve been considering making a change and putting your house on the market, now is a perfect time. As a homeowner with so many reasons to sell your home now, the advantage is yours.
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