With everything going on in the housing market lately, you might have some questions about selling your house. Here are a few things you might be wondering, and the answers to help you feel confident about your decision.
1. Are There Still Buyers Looking for Homes?
Are you putting off selling your house because you’re worried no one’s buying due to where mortgage rates are? If so, know this: plenty of buyers are still out there, and they’re purchasing homes today. As Realtor Magazine says: “. . . consider the life-changing events that took place during the past two years: 3 million marriages, 1.5 million divorces, 7 million births, 4 million deaths, and 7 million Americans reaching 65. Staying put isn’t an option for many growing families or divorcing couples. The dream of retiring to a home requiring less maintenance can’t be postponed indefinitely. People need and want to move.” It’s simple. Buyers will always need to buy, and those who can afford to move at today’s rates are going to do so. That means buyer demand hasn’t disappeared.
2. Is It Worth It To Sell Now?
The supply of homes for sale is still low, so we’re still in a seller’s market today (see graph below). With more buyers than homes today, buyers crave more options, and your house may be just what they’re looking for. Selling while inventory is this low means if you price your house right, it’s likely to be in demand.
3. Are Home Prices Falling?
Put simply, they are not. Recent data shows home prices are on the rise at a normal pace in many parts of the country. And while prices vary by market, experts project they’ll continue to rise at typical levels of appreciation in the years ahead. So, with the worst home price declines behind us and prices appreciating today, you can still sell with confidence this season.
Bottom Line
If you’re thinking about selling your house this winter, let’s chat so you have the advice and information you need to make the right choice.
