Quite honestly, selling your home can be a pain. From keeping it clean, to having to disappear at a moments notice, it can take a toll and cause hesitation to list in the future. If you’ve let the thought of selling your home creep into your brain, even a little bit, now is the time to take action.
With low levels of inventory, and an ever increasing number of buyers (especially around Atlanta), 2018 is shaping up to be a perfect storm for sellers.
“We’ve seen two or three years of what could be considered unsustainable levels of price appreciation, as well as an inventory shortage that resulted in a record low number of homes for sale across the country,” says Javier Vivas, director of economic research for realtor.com®.
Meaning, with the lack of inventory- buyers are getting desperate and paying record high prices for homes.
Basically a seller’s dream situation.
Unfortunately, this can’t last forever.
Here are 5 reasons why realtor.com® says you should get moving NOW:
1. Rates are still historically low, drawing buyers into the market
We may not be enjoying the rock-bottom interest rates of yore, but by historical standards, today’s 30-year mortgage rates—hovering just above 4%—are still low. And experts agree mortgage credit will remain relatively cheap for most of the year.
That means the getting’s still good for buyers—and, subsequently, for sellers looking to unload their homes.
But rates are on the rise, and it’s been widely predicted that they’ll reach 5% before year’s end. Buyers know that the longer they wait to buy, the more expensive it will be.
Roughly translated, that means you’d be wise to list your home earlier in the year, before more rate hikes kick in. Not only will you capture the market of buyers scurrying to close a deal, but if you’re buying after you sell, you’ll also benefit from those lower rates.
2. Inventory remains tight—and demand high
Simply put, there are more buyers than available homes—particularly in red-hot markets where land is scarce and it isn’t cheap to build.
And the housing shortage will likely get worse before it gets better: Realtor.com data predict inventory will remain tight in the first part of this year, reaching a 4% year-over-year decline by March..
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