Don’t Wait Until Spring to Sell Your Home – Here’s Why
During the summer of 2021, Americans saw a massive spike in housing prices nationwide. In fact, home prices rose to a record high in June, growing over 17% in one year.
With prices like that, is it a good idea to wait until spring to sell? To be brief, the answer is no. Don’t wait to sell your home, or else you could risk losing a huge chunk of your profit. Are you not feeling convinced?
Read on to learn why the experts suggest that you don’t wait to sell your home if you feel ready to do so in the fall.
The Market is on Your Side
Have you ever heard that there are more people buying and selling homes in the spring? This theory sprung up in large part due to school schedules. School is coming to an end, so it’s a great time to make a move for families.
Spring is often associated with a refreshing restart, too. So, there may be some seasonal truth to the fact that the housing market swells in spring.
With that in mind, it makes more sense to sell in the fall or winter. The market is less saturated, which means you’ll attract more serious buyers. You won’t waste time showing your home to unlikely buyers. The market will be on your side.
More Sellers Means More Competition
You may be thinking — how will the market be on my side if there are fewer buyers and sellers? Fewer homes for sale means less competition for you!
Listing your home could create an immediate buzz if few homes are getting posted.
Spring Hype is Overrated (and Possibly Overinflated)
Remember how we said earlier that spring market swelling was theory? There’s no hard proof that more buyers are looking for homes in the spring. Plus, the pandemic has put different challenges in front of Americans.
School schedules have less of an impact when everything is virtual.
Interest Rates Could Go Up
Lower interest rates often mean more interested buyers. That’s because loans are easier and cheaper to secure.
When interest rates are high, that limits your potential buyers. It’s more expensive and harder to take out a loan.
Between now and the spring, experts predict interest rates will rise. Inflation is already soaring, and Americans are feeling the financial crunch. Due to these factors, experts predict a 33% drop in mortgage loans in 2022.
That’s not a good outlook for sellers, so waiting until spring to come could be the worst move for you.
Don’t Wait to Sell Your Home: Act Now
If you’re considering when to sell your home, then ponder no longer. You’re equipped with the knowledge to make a good decision. Don’t wait to sell your home. The time to act is now.
Are you hesitant because you haven’t found the perfect partner to help sell your home? Book a 30-minute listing consultation with me now to learn more about what I can do for you.