Virginia Gardner

Back To Blog

Win When You Sell (And When You Move)

Win When You Sell (And When You Move) | Simplifying The Market

If youre trying to decide when to sell your house, there may not be a better time than this winter. Selling this season means you can take advantage of todays strong sellers market when you make a move.

Win When You Sell

Right now, conditions are very favorable for current homeowners looking for a change. If you sell now, heres what you can expect:

  • Your House Will Stand Out While recent data shows there are more sellers getting ready to list their homes this winter, there are still more buyers in the market than there are homes for sale. If you sell your house now before more houses are listed, it will get more attention from serious buyers who are eager to find a home.
  • Your House Will Likely Get Multiple Offers When supply is low and demand is high, buyers have to compete with each other for a limited number of homes. The latestRealtors Confidence Index from theNational Association of Realtors (NAR) shows sellers are getting an average of 3.6 offers in todays market.
  • Your House Should Sell Quickly According to the same report from NAR, homes are selling in an average of just 18 days. As a seller, thats great news for you if youre looking for a quick process.

Win When You Move

In addition to these great perks, youll also win big on your next move if you sell now. CoreLogic reports homeowners gained an average of $51,500 in equity over the past year. This wealth boost is the result of buyer competition driving home prices up. You can leverage that equity to fuel a move, before mortgage rates and home prices climb higher. To get a feel for how rates are projected to rise, see the chart below.Win When You Sell (And When You Move) | Simplifying The MarketThe longer you wait to make your move, the more it will cost you down the road. As mortgage rates rise, even modestly, it will impact your monthly payment when you purchase your next home. Waiting just a few months to make that change could mean a long-term financial impact.

The good news is todays rates are still hovering in a historically low range. According to Doug Duncan, Senior VP and Chief Economist at Fannie Mae:

Right now, we forecast mortgage rates to average 3.3 percent in 2022, which, though slightly higher than 2020 and 2021, by historical standards remains extremely low . . .

Selling before rates climb higher means you can make your move and lock in a low rate on the mortgage for your next home. This helps you get more home for your money and keeps your payments down too.

Bottom Line

As a homeowner, you have a great opportunity to get the best of both worlds this season. You can truly win when you sell and when you buy. If youre thinking about making a move, lets connect so you have the information you need to get the process started.

Add Comment

Comments are moderated. Please be patient if your comment does not appear immediately. Thank you.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Comments

  1. No comments. Be the first to comment.