Thinking about selling your home?
Reason No. 1: Mortgage rates are still low
It's all about rates! Today, rates are floating at around 4.25%, but The National Association of Realtors (NAR), Zillow, and other publications have stated that interest rates will probably climb to about 5% by the end of the year. With interest rates currently low, buyers can afford more house, which puts you in a better position to sell your home. The tipping point is when rates reach 5%. That's when buyers could put the brakes on the robust real estate market.
Reason No. 2: Inventory is still low & buyer demand remains high
This combination of supply and demand provokes multiple offers on homes, which is great news for the seller as multiple offers result in top dollar for their home.
Reason No. 3: Home prices are rising
The NAR stated that homes prices rose by 6.8% over 2016. That's no fluke. That was the 57th consecutive month of year-over-year gains! Higher prices particularly benefit the seller whose property value plunged during the recession, sometimes to less than he owed. Thanks to rising prices, many homeowners whose property values were underwater can now sell without suffering a big loss. High home prices combined with low inventory creates a perfect storm for sellers.
Reason No. 4: Job markets are strengthening
This means that our national economy is improving. This in turn is causing people to feel more comfortable making bigger purchases such as homes and cars.
Do you have any questions about the 4 reasons above or have any real estate questions at all?
I'm happy to help!
Call me today at 623-451-0443