5 Reasons You Should Sell Now!
We keep hearing to sell, sell, sell before the market shifts, but why now. Our team has come up with 5 reasons why we think now is the time to sell in this market:
- Interests Rates are at an all-time low
When interest rates are low this increases buyers purchasing power. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget. Interest rates have remained historically low, but have been projected to slightly increase, so buyers are anxious to lock in their rate.
- Millennials tip-toeing into the market
Many millennials are getting married, starting families, and settling down, which is when they consider buying a home. Millennials are noticing that rents are increasing exponentially, and don’t want to continue paying someone else’s mortgage.
- Demand is High + Inventory Low = Less Competition amongst sellers
Housing inventory remains low, while Buyer demand remains very strong. These buyers are ready to purchase but their demands outpace the supply of homes for sale. There are also huge numbers of people who did a short sale or had a foreclosure and many of those people will be eligible to purchase again.
- You’ve become an empty nester
Your children have gone off to college and you are now looking for a home that fits your changing needs. Many families moved in the Eastview neighborhood in order for their children to attend the Palos Verdes School district, but now they may consider move into neighborhoods that can give them more financial freedom.
- Builders Confidence in the Market
Builders are regaining confidence in the market, new construction of single family homes is projected to increase over the next year. Many buyers who have not been able to find their dream home with the existing inventory are turning to new construction. This is great for when it comes time to buy a home, you may consider the option of buying a fixer.
