Housing markets are changing and as we enter the Holiday Season, you might be wondering if selling your home during this time makes any sense.
These 3 key factors about the housing market conditions today can help answer those doubts!
1. Should I wait to sell? Even though there is an increase in homes on sale now compared with last year – 5% more according (NAR), it is important to keep in mind inventory levels remain low overall. That means we’re still in sellers’ territory. The graph below helps to put housing inventory into perspective
2. Are there buyers out there? Millennials are the largest generation. They are a significant driving force for buyer demand in the housing market today. If you are wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for.
The millennial generation has been called the renter generation but that label may not apply anymore. Millennials are actually driving demand in housing today, with more potential buyers than ever before so your house could very likely suit their needs! Since there are not many houses for sale, your house could still stand out. If you list it now, you will be ahead of other sellers who wait until after the holiday rush and the start of the new year.
3. Will I Be Able to Purchase My Next Home? If you are worried about how you will afford your next home, don’t worry. You may have more equity in your current home than you think. Homeowners have gained a lot of equity over the past few years, and that equity can help you afford a new home, even if mortgage rates go up.
Want to sell your house this season? Let’s connect so you have all the expert insights into making a great move.