Market conditions make now a particularly great time to be on the market as a seller. There are four main reasons why.
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Get a free Home Price Evaluation If you've been on the fence about selling, it's probably time to jump off. These are the four main driving factors that make now such a great time to sell your house.
- Mortgage interest rates are still low: Low rates translate to lower monthly costs, and lower costs entice more buyers. Having more buyers is always a good thing for you as a seller. Even though rates have ticked up slightly since October, they're still hovering near 30-year lows—for now.
- Inventory is shrinking: When there are fewer homes to choose from, the available homes become more valuable.
- Home prices are rising: This is driven by the low inventory and high demand. According to the National Association of Realtors, the median home price in November 2016 was up 6.8% over November 2015. That's not a fluke—this is the 57th consecutive month with year over year gains.
- Job markets are strengthening: As unemployment goes down and wages go up, consumer confidence will begin to rise, which will spur on more buyers to enter the market and buy homes. That's more good news for sellers.
If you're thinking about selling your house or you're still not convinced, feel free to give me a call or send me an email soon. I'd love to hear from you.