If you are thinking of selling your home this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one. According to Gallup, real estate has been rated the best long-term investment for eight years in a row. You are not just buying a place to call home; you are investing in your future. Real Estate is typically considered a stable and secure asset that can grow in value over time.
Here are a couple of reasons why spring may be your golden window.
The number of Homes on the Market Is Still Low
Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes available. Listing your home now makes it the center of attention.
Your Equity Is Growing in Record Amounts
According to the most recent Homeowner Equity Insight report from CoreLogic, homeowners are sitting on record amounts of equity thanks to recent home price appreciation. The report finds that the average homeowner has gained $55,000 in equity over the past year. 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 fuel your move.
Mortgage Rates Are Increasing
While it’s true mortgage rates have been climbing this year, current mortgage rates are still below what they’ve been in recent decades.
Home Prices Are Climbing Too
Home prices have been skyrocketing in recent years because of the imbalance of supply and demand. And as long as that imbalance continues, so will the rise in home values. If you are selling you have an opportunity to get ahead of the curve by leveraging your growing equity and purchasing your next home before prices climb.
If you want to win when you sell and when you buy, this spring could be your golden opportunity.
