Bulbs are blooming, and spring is right around the corner! Are you wondering if now is the best time to sell your house? With historically low inventory, and the housing demand high, you might be missing out on a great opportunity to sell your house!
4 Reasons to Sell Your House This Spring:
1. Demand Is Strong
The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) says buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase now! Take advantage of the buyer activity currently in the market.
2. Less Competition Now
According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply needed for a normal housing market. This means there are to few homes for sale to satisfy the number of buyers in the market. This is good news for home prices, but time is of the essence.
Homeowners unable to put their house on the market due to negative equity situations are itching to make the move now. Real estate values have increased over the last two years, which means homeowners are now seeing a return to positive equity.
Single family home new construction saw an increase in 2016, but there is still room for improvement. As builders regain confidence in the market, new construction of single-family homes will likely increase over the next two years, reaching historic levels by 2017. New home sales numbers show many buyers turning to new construction to fulfill their needs because the market simply does not have what they are looking for.
3. Quicker Process
Fannie Mae anticipates an acceleration in home sales that will surpass 2007’s pace. When the market heats up, banks are inundated with loan inquiries causing closing time-lines to lengthen. Selling now makes the process quicker and simpler.
4. Never a Better Time to Move Up
Do you want to move into a larger house? Consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in dollars (both in down payment and mortgage payment) if you wait.
Interest rates are hovering around 4.0% and are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.
You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on, and start living the life you desire.
For up-to-date information on YOUR Indiana area neighborhood or a FREE Seller Consultation – call The Romanski Group at (765) 293.9100. Using an experienced team is the way to get your home SOLD! You deserve the BEST Realtor in the Lafayette Indiana and West Lafayette Indiana area! Learn more about our Guaranteed Home Sale Program!