Today I want to share with you some reasons why now is a great time to sell your home.
If you’ve been on the fence about selling your home this year, it might just be the perfect time to take a closer look at the market. 2017 has been the year of the home seller. Sellers have been in the driver’s seat for the last two years but 2017 is shaping up to be even better for several reasons.
First is the low mortgage rates. Low mortgage rates translate to lower monthly costs. These lower costs entice buyers which is great for a home seller. While rates have been moving up slightly since mid-October – any buyers that are aware of that, may hustle to purchase a home now before they climb any higher. Since mortgage rates rarely move in a straight line, they could be between 4.6% and 4.8% by the end of the year.
The second reason is low inventory. Remember your lessons of supply and demand in Econ 101? Well the same is true for residential real estate. When inventory shrinks, available homes become more valuable. Not only are there fewer homes for sale in the Central Ohio market, but the time those homes have spent on the market has dramatically decreased as well. If priced correctly, homes should move quickly which is great news for sellers.
The third reason to sell your home now, is that home prices are on the rise. Lower inventory and greater demand have pushed up home prices. We are seeing many multiple offer situations in today’s market which is leading to homes being sold above their listing price.
The final reason to get your home on the market now, is that the job market is strengthening. As unemployment decreases and wages increase, consumer confidence will climb. Increased confidence will spur buyers to jump into the market which again is great news for sellers.
For more information, watch our video here.
Overall, now is a wonderful time to get your home listed! For any questions about the listing process, contact us today at 614.855.8700 or visit our website at www.TheRainesGroup.com.