Should I sell my house this year? 3 opportunities to consider
There’s no denying the housing market is undergoing a shift this season, but that shift gives you some unique benefits when you sell. Here are the key opportunities you have if you list your house this fall.
Opportunity #1: You Have More Options for Your Move
The biggest story today is the growing supply of homes for sale. Housing inventory has been increasing since the start of the year, primarily because higher mortgage rates helped cool off the peak frenzy of buyer demand. This could benefit you.
If you’re selling your house to make a move, it means you’ll have more options for your own home search. So, if you’ve put off selling because you were worried about being able to find somewhere to go, know your options have improved.
Opportunity #2: The Number of Homes on the Market Is Still Low
Just remember, while data shows the number of homes for sale has increased this year, housing supply is still firmly in sellers’ market territory.
While you’ll have more options for your own home search, inventory is still low, and that means your home will still be in demand if you price it right. That’s why the most recent data from NAR also shows the average home sold in July still saw multiple offers and sold in as little as 14 days.
Opportunity #3: Your Equity Has Grown by Record Amounts
The home price appreciation the market saw over the past few years has likely given your equity (and your net worth) a considerable boost. Danielle Hale, Chief Economist at realtor.com, explains:
“Homeowners trying to decide if now is the time to list their home for sale are still in a good position in many markets across the country as a decade of rising home prices gives them a substantial equity cushion . . .”
If you’ve been holding off on selling because you’re worried about how rising prices will impact your next home search, rest assured your equity can help. It may be just what you need to cover a large portion (if not all) of the down payment on your next home.
If you’re thinking about selling your house this season, let’s connect so you have the expert insights you need to make the best possible move today.
Let’s connect so I can help you strategize to achieve your dream of homeownership this season.
Questions about buying or selling a home in Beaverton? Contact Donna Meeuwsen at 503.583.3200 or email firstname.lastname@example.org