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Did You Outgrow Your Home in 2020?

Did You Outgrow Your Home in 2020? | Simplifying The Market

It may seem hard to imagine that the home youre in today whether its your starter home or just one youve fallen in love with along the way might not be your forever home.

Many needs have changed in 2020, and its okay to admit if your house no longer fits your lifestyle. If youre now working remotely, facilitating virtual school, trying to exercise at home, or simply just spending more time in your own four walls, you may be bursting at the seams in your current house.

According to the latestHome Price InsightsfromCoreLogic, prices have appreciated 7.3% year-over-year. At the same time, theNational Association of Realtors(NAR)reportsthat inventory has dropped 22% from one year ago.Did You Outgrow Your Home in 2020? | Simplifying The MarketThese two statistics are directly related to one another. Asinventoryhasdecreasedand demand hasincreased, prices have been driven up.

This is great news if you own a home and youre thinking about selling. The equity in your house has likely risen as prices have increased. Even better is the fact that theres a large pool ofbuyersout there searching for the American dream, and your home may be high on their wish list.

Bottom Line

If you think youve outgrown your current home, lets connect to discuss local market conditions and determine if now is the best time for you to sell.

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