Here are three reasons why you should sell your home this year.
As we head into the summer months, you may be considering selling your home. Based on current conditions, it will probably be the best opportunity to list your property for quite some time. There are three reasons why:
1. Supply is still lacking. Two major trends that we noticed in Q1 were a low supply of homes and increased interest rates. Experts predict both of these trends will continue in 2022. Lower supply means higher sale prices and more offers.
2. Prices are still rising. After another strong quarter of appreciation, the second half of the year may see a slight slowdown. Homes will still increase in value, but the rate of appreciation may be pulled back slightly based on expert predictions from Fannie Mae.
Higher interest rates haven’t scared off buyers yet.
3. Interest rates have increased. This has resulted in a decrease in buying power for prospective buyers. However, this hasn’t scared off many of these buyers from jumping into the market because they know owning a home is a much better investment than renting one.
Although prices aren’t growing as quickly as they have the last few years, I still predict bidding wars and multiple offers as we move further into the year. If you decide to list your home this summer, you will be able to sell quickly for top dollar. I predict the market will remain more or less the same over the next six months, except some buyers will be priced out, and inventory will slightly increase.
If you have any questions for me about the real estate market, selling a home, or anything else, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.