Three factors make this window of opportunity a great time to sell.
Right now, we’re in the perfect spot to maximize your home’s value, but it will only get harder to do that moving forward. Here are the three reasons why we believe now is the best time to sell your home:
1. Mortgage interest rates are on the rise. Mortgage rates are the highest they’ve been since 2009, and we can’t ignore the effect that’s having on the buying pool in the market. Around three months ago, a client of ours put a new construction home under contract. Due to the rate increase since then, the buyer no longer felt like they could afford the property, so they backed out of the deal.
2. The spring-to-summer transition. Now that school is out, people have more time to go out and look at homes during the week instead of limiting themselves to weekend showings. This is the peak time of the year for people with school-aged children to make offers on homes; that way, they can close before school starts up again in the fall.
3. There’s more competition in the summer. More people tend to list their homes in the summer. That, combined with rising interest rates, means your buying pool will only get smaller. If you list your house now, you might beat the summer traffic and have more buyers bidding on your property.
If you’re thinking about selling your home this year and would like to discuss strategies to help you get the most money possible with the least stress, or if you have any questions, give us a call or send us an email. Let’s come up with a game plan together.