Can you believe it? Fall is already upon us! The air is a little cooler, leaves are beginning to change color and you’re wondering whether or not you missed the spring market to sell your home.
Contrary to what some believe, Fall is a good time to sell your home.
Here are 5 Reasons Why Fall Is a Good Time to Sell Your Home
1. Demand for homes is still strong
Buyers searching for homes in the fall are generally more motivated than buyers in the spring. These buyers are ready, willing and able to buy! If you’re worried about buyers, the latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the majority of the country.
Why not take advantage of active and motivated buyers that are currently looking for homes in the Fall.
2. There will be less homes competing with yours
NAR’s Existing Home Sales Report reveals that the supply of homes for sale is still below the healthy 6-month housing supply. This means that buyers do not have enough supply of homes to choose from. While this is good news for home prices, additional inventory is expected to come on the market.
Many homeowners who were unable to sell over the past few years due to negative-equity in their home, now have a strong desire to sell. Many of these homeowners can now see a positive-return as home values have increased over the last 2 years. This is expected to result in more homes coming on the market in the spring.
In addition, new construction continues to be on the rise for single-family homes and is projected to increase over the next two years. When buyers cannot find resale homes they turn to new construction.
The choices available to buyers will continue to increase. Don’t wait for all the other inventory to come on the market. Take advantage of the low inventory of homes in the fall.
3. The home selling process will be quicker
Fannie Mae announced that they anticipate an acceleration in home sales that will surpass 2007’s pace. As the market continues to heat up, banks will be dealing with much more loan inquires causing the closing timelines to be longer. Selling your home in the Fall will more than likely make the process quicker and simpler.
4. There Will Never Be a Better Time to Move Up
If you have been waiting for the right time to move up to a more expensive home, now is the time to do it! Prices are expected to rise by 5.3% over the next year, according to CoreLogic. A higher-priced home will end up costing you more in down payment and your mortgage rate if you continue to wait. Selling your home in the Fall can get you into the home you want sooner.
5. It’s Time to Move On with Your Life!
Evaluate your reason to sell your home. Are you wanting to move closer to family? Is your health as good as it used to be? Is your current home too much or too costly to maintain? Have you outgrown the neighborhood you’re in? Have you been wanting to travel more?
It’s time to ask yourself…” Is it worth staying in my current home or is it worth moving on with my life?” Only you can take control of the situation.
Karen Smith & Associates can help you get your home sold so that you can get on with enjoying your life.