If you’re thinking about selling your home, 2019 is the year to do it, but after that, it will only get harder.
It’s no secret that the real estate market has been pretty good to home sellers these last few years. Even if you had no desire to move, the housing landscape itself might’ve at least tempted you to sell anyway. After all, it’s hard not to see dollar signs when your neighbor is selling their home for tens of thousands over their asking price.
As they say, though—all good things must come to an end, and you’ve probably heard by now that our white-hot seller’s market is coming to an end. Have you missed the boat if you haven’t listed yet? Absolutely not, but the longer you wait to sell, the harder it’s going to be, and there are three reasons why.
First, your home won’t be the only one on the market for long. It’s basic supply and demand: Sellers have been in the catbird seat for the last several years, but there simply weren’t enough homes on the market to keep up with the buyer demand. For now, buyers still outnumber available inventory, but more and more homes are being listed.
Second, mortgage rates are still low. Experts predicted that interest rates would rise at the end of 2018, and while they were trending upward heading into this year, the average rate for a 30-year fixed mortgage has actually decreased in 2019 and is back below 4%. This means you’ll have more buyers knocking at your door if you list now. These low rates present a great opportunity for trade-up buyers as well.
Lastly, you still stand to make a handsome profit. The average home prices in most markets in our area have seen a meteoric rise the past several years, and while the news that things are slowing down might seem like a good reason to wait, moderate prices and low interest rates have combined to increase buyer demand right now. You might face more competition from other sellers and you might not get an offer over your asking price by listing in 2019, but you’ll still sell for a lot of money.
If you or anyone you know is thinking about selling their home, don’t hesitate to call or email me. I’d be happy to help you.