Aside from specific reasons that force you to sell your home at a particular time, sometimes it can be tough to figure out when is the right time to put your home on the market for sale. Here are 5 reasons why listing your home for sale this summer makes sense.
Demand is strong
According to a recent Buyer Traffic Report from the National Association of Realtors, buyer demand is still strong for most markets across the country. These buyers are ready to make their move as they are actively looking for homes so take advantage of the activity in the market.
If the market is busy then banks have more and more loans to close on properties. Selling your home now may make the process quicker and easier. According to Ellie Mae, a loan now is on average 42 days to close versus the 48 days we saw in busier January.
The current housing market has a 4 months supply of property which is below the 6 months that is referred to as a normal market. This informs us that there are not enough properties available to satisfy the current demand in the marketplace. In some areas there is pent up desire to sell their homes as their home value has reached a point where they can now afford to sell. In addition, as builder confidence has reached its highest point in over 10 years, construction will also most likely surge this summer. All of these factors may lead to an increase in inventory changing the competitive landscape.
It is time to move up
If you are planning on upgrading to a larger home, now is a good time to do so. With prices on the rise the amount to finance is going to cost you more. Mortgage rates are also expected to increase so locking in now at today’s rates is a good idea.
It is time to move on
Consider the reason why you started to think of selling in the first place and see if it is worth waiting. Would selling now afford you a better financial situation or another valuable life quality or experiences? Only you can answer this and the control is in your hands. Maybe now is the time to put your home on the market and move on to your life’s next chapter.