The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change.
The Census Bureau also just reported the highest homeownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives.
Often deciding whether to sell now or wait is a battle of the heart and mind.
Here are 5 clear reasons it’s the perfect time to sell your home in 2020, and tips on how you can take advantage.
1. Economic growth.
It is unprecedented and forecasts can only go so far, so it’s a roll of the dice, but the odds are in your favor currently.
2. You are house-rich.
Homeowner equity has hit an all-time high of “$6.3 trillion in the second half of 2019.” Have you had your home valued? Contact me today and I will help get your home quoted!
3. Get that low-interest rate!
Did you know the 30-year fixed mortgage rate averaged just 3.9%? This fuels buyer demand and could lock in your rate for your next home.
4. Supply and Demand
It is on your side.
5. The inventory shortage is alive and well!
There are more buyers out there looking for homes than there are homes available to buy. The ball is in your court if you are a seller.
So what does this all mean for buyers and sellers?
Buyers need to remain patient in the search process. At the same time, buyers must be ready to act immediately once they find the right home.
Sellers may not want to wait until spring to put their houses on the market. With demand so high and supply so low, now is the perfect time to sell your house for the greatest dollar value and the least hassle.
The real estate game is a tricky animal, so you can never guarantee anything, but with a professional on your side you can tame the beast!
Let’s connect today!