Now is The time To Sell
A seller’s market is always good news for someone looking to sell, but what factors are making it important to make that move that spring?
One of the most substantial reasons is that lack of the inventory is causing price increases. Economics 101 tells us when supply is down and the demand is up, prices will be increased. There are several buyers out there with no inventory of homes to choose from. When a home comes on the market, buyers are fighting over it. They are asked to put in their highest & best offers. These multiple offer scenarios are driving up the prices of the homes and many are going under contract for over the asking price within the first few days of being listed.
Another factor is current mortgage rates being historically low, dropping low 3%, Mortgage rates fluctuate based on the market conditions and during a pandemic buyers are rushing to take advantage of these low rates in case that changes.
This past year has been a time of uncertainty. The pandemic has been forced many individuals to work from home and in turn to reevaluate their living situation. Many have to come to realize their homes are not suitable to be a home and an office and changes need to be made.
Many factors are driving this sellers market and anyone questioning if it’s a good time to sell can rest assured that the right buyer is waiting to purchase their home.