Here's a list of 5 reasons why you would want to list your home for sale this summer.
1. Demand Is High
According to National Association of Realtors (NAR), buyer demand is strong throughout the country. These home buyers are ready, willing and have the ability to purchase - in short they are in the market right now! Yes, multiple buyers are even competing with each other for the same property.
2. Less Competition Now
Houses and properties for sale are still under the 6-month supply needed for a normal real estate market. This only means that, in most countries, there are not enough homes for all the buyers in market.
Homeowners stayed in their home usually 6 years; but that number rose to 9-10 years since 2011. Most of them have the desire to move, but unable to sell their home due to a negative equity situation. As home values continue to appreciate, most of them are granted the power and freedom to move.
For the last couple of years, many homeowners were reluctant to list their home for the fear that they would not find a home to move in to. All of those are changing now as more homes come to market at the higher end.
With that being said, number of properties continue to increase in the market. Don't wait until additional inventory enters the market before you decide to sell.
3. Process Is Quicker
According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 43 days. This only makes sense that the entire selling process is much faster and simpler. Buyers nowadays know exactly what to do and what they can afford before home shopping. In today's market, buyers are forced to stand out from the crowd - that includes getting pre-approved for their mortgage financing.
4. There Will Never Be a Better Time to Move Up
According to CoreLogic, prices are projected to appreciate by 4.8% over the next year. If your next move will be a luxury home, now is the time to move up. The inventory of higher priced homes has created a buyer's market. This only means that if you are planning on selling a starter or trade-up home, it will surely sell quickly - AND you'll surely be able to find the luxury home to call your own!
5. It’s Time to Move on with Your Life
Is money more important than being with family? Check yourself and look at the reason you decided to sell in the first place. Is it worth waiting? You only have the answers to these questions. Perhaps the time has come for you and your family to start living the life you truly desire.