Why list your home in the Fall season? Here are a few good reasons!
1. Demand is STRONG
According to the latest Traffic Report from the National Association of Realtors (NAR), buyer demands are going strong throughout the majority of the country. Buyers are ready, willing, and able to purchase, and are in the market right now!
More often than not in many areas, multiple buyers are competing with others in the market for the same home. Take advantage of this increased buyer activity that’s currently in the market around you.
2. Take Advantage of Lower Competition
The housing inventory is still under the 6-month supply that is needed for a normal market. What this means is that in the majority of the country, there are not enough homes for sale to meet the demand of buyers.
Normally, a homeowner would stay an average of six years in their home before selling. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire amongst homeowners to move if they were unable to sell due to a negative equity situation. As home values continue to grow, more and more homeowners will be given the freedom to move.
That being said, many homeowners were reluctant to list their homes over the past few years for fear that they would not find a home to move into. That’s all changing now as more homes enter the market at the higher end. Choices that buyers will have to make will continue to increase. Don’t wait until additional inventory comes to market before you decide to sell your home.
3. The Process Will Be Quicker
The competitive market of today has forced buyers to do whatever they can to stand out from the crowd. This includes getting pre-approved for their mortgage financing. This will make the entire selling process not only faster, but far simpler. Buyers will know exactly what they can afford before shopping for a home. According to the latest Origination Insights Report by Ellie Mae, the time needed to close a loan is 43 days.
4. Never a Better Time to Move Up
If your next move will be into a luxury or premium home, now is the time to make that move. There’s currently plenty of inventory for sale at higher price ranges. This means that if you’re planning on selling a starter, or a trade-up, home, and moving into your dream home, you’ll be able to do that in the upcoming luxury and premium market.
According to CoreLogic, prices are projected to appreciate, or increase, 5.2% over the next year. If you’re moving to a higher-priced home, it will end up costing you more in both down payment and mortgage if you wait.
5. It’s Time to Move On with Your Life
Look at the reasons you decided to sell in the first place and determine whether it is worth waiting for. Is money more important than being with family? Is money more important than having the freedom to go on with your life the way you should?
The only person who knows the answers to these questions is you. You have the power to take control of the situation by putting your home on the market. Perhaps that time has come, and you and your family can move on and start living the life you desire.