Should You Sell Your Home Now?

for sale signThe arguments for selling your home now or waiting can make that decision a difficult one. However, if you look at the reasons why you should sell now, the decision should becomes easier. Let’s look at some of those reasons.

1) DEMAND. The demand for housing is very high right now. Existing home sales are up 4.7% year over year and 1.2% month over month. In February, 34% of the homes that sold were on the market less than a month. Buyer demand is pent up and as warmer weather comes, buyer demand will just increase – but so will seller supply. Putting your home on the market now will give you a “running start” before other homes come onto the market later in the spring.

2) LACK OF INVENTORY. The inventory of existing homes for sale is very low. Nationally, 4.6 months of inventory of existing homes are for sale – much lower than the 6 months in a normal market. Putting your home on the market now means there will be less competition than if you wait until later this spring.

3) NEVER A BETTER TIME TO MOVE. If you have been thinking about moving, there’s not a better time to move. Economists are predicting that home prices could increase over 19.6% by 2019. Interest rates? Who knows. But the Federal Reserve has been talking about increasing rates – which will affect home interest rates by as much a 1% over today’s low rates of around 3.75%. Putting your home on the market now means that you can take advantage of lower home prices and the low interest rates that are available today.

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