Let’s look at why listing your home now is a better idea than waiting until Spring…
If you have been thinking about selling your Anderson SC home this Spring, you may be surprised to find out that now is a great time to list your home! While housing markets used to quiet down during the winter months, that has not been true this year!
I recently shared how NAR said that home buyer traffic is stronger this winter than it was during the spring buying season last year! Buyers are not waiting for the traditional home buying season of the past!
Let’s look at 2 very compelling reasons why you should list your home for sale now!
The Number of Homes for Sale is Low
A great reason to list your home for sale now is that there is less competition. Because there is a low number of homes for sale, we are in a seller’s market.
The number of homes for sale in the US has decreased compared to the same time last year. National statistics do not always mirror what is happening locally but lets look at what Trulia recently said:
In Q4 2017, U.S. home inventory decreased by 10.5%. That is the biggest drop we’ve seen since Q2 2013.
Check out this chart showing how the number of homes for sale in different categories has decreased according to Trulia:
This is similar to what you will see in the Anderson SC area. The limited inventory of homes for sale is very true in our area, especially under $250,000.
Interest Rates Are On The Way Up
the 2nd thing to think about is how mortgage rates have been increasing lately. I know we heard for several years that mortgage rates were going to increase…
And it never happened! Now, it appears that the improving economy will cause mortgage rates to increase!
As mortgage rates increase, the number of buyers that can afford your home will decrease!
The Take Away
Selling your home now might appear odd or goes against what you would think is best. The one two punch of fewer buyers and more competition should motivate you to list your home now!
Do not let this make you think you can get away with overpricing your home! Your home must be clean, move in ready, properly staged, priced correctly and easy to show!