Thinking of selling your home? If so, you can consider factors like current mortgage rates and remodeling to determine your next move. Here’s another thing to think about. According to Fannie Mae’s latest Home Buyer Sentiment Index (HPSI), the percentage of respondents who say now is a good time to sell is on the rise (see chart below).
Why are sellers so bullish?
One reason is that this is traditionally the best time to sell a home. A recent Bankrate article explains:
“Late spring and early summer are generally considered the best times to sell a house. . . . While today’s rates are relatively high, low inventory is still keeping sellers in the driver’s seat in most markets.”
This is the season when people move the most. In other words, buyer demand is increasing. Because there aren’t yet enough homes for sale to meet this demand, sellers enjoy some significant advantages. According to Rocket Mortgage:
“Homes that are listed at the end of spring and the beginning of summer typically sell faster at a higher sales price.”
What does this mean to you?
More and more sellers are realizing that their situation is right for moving. This is one of the reasons why more and more homeowners are putting their homes up for sale. If you think you’d like to get in on the action, you’d better be prepared.
A local real estate agent can help you stage your home, advising you on how to best decorate it and make it attractive to buyers in your area.
They also know that selling during the peak buying season of spring and early summer can help them sell quickly and at a higher price.
