4 Reasons It'll Pay to Sell Your Home Early in 2018
It has been almost a decade since the Great Recession delivered the worst housing crash in modern memory. But it’s 20818 and homes are flying off the market at record prices all across the country and buyers are still clamouring to get in the game. Now one thing is for sure it is a great time to be a seller!
In other words: Today’s buyers are exhausted and tired which means in many cases they are willing to make a sacrifice to get a toehold in the market. Although to have the most advantage as a seller your window of opportunity could be narrowing here is why you should get moving ASAP.
Rates are historically low, and drawing buyers into the market - We may not be enjoying rock bottom interest rates but by historical standards todays 30-year mortgage rate hovering just above 4% are still very low. This means the going is good for buyers, enticing them into the housing market and consequently fantastic for sellers especially where inventory is low.
That said, mortgage rates are on the rise and buyers are starting to understand the longer they wait the more expensive it will be to borrow. In a nutshell, it would be wiser to market your home earlier on in the year while mortgage rates are low and they are accessible by more people. Take advantage of low interest rates and low inventory!
Inventory remains tight and demand is high - To put it simply there are more buyers than available homes, and the supply problem is likely to get worse before it gets better looking at Washington County statistics for inventory in December 2017 (the latest month we have statistics for) total number of homes available is lower by 153 units or 22% which is a total of 553 compared to 706 in December 2016. The average days on the market was also down by 8%
Home Prices Are Still Increasing - Home prices continue to rise which translates to more money in your pocket although more moderate than in the past years data suggests a 3.2% increase year over year compared to ending 2017 with a 5.5% year over year.
People have more money in their pocket - Record levels of consumer confidence, low unemployment, and stock market surges are setting the stage for high home buyer turnout in 2018. Or the first time since the 1960’s , the Fed has projected that the unemployment rate will drop below 4%, and the stock market is having somewhat of an unprecedented rally.
The housing market is already reflecting this boom: Existing-home sales soared 5.6% n November and reached their strongest pace in almost 11 years according to NAR (National Association Of Realtors)
So if you are looking for a stress free move reach out to one of our agents today.