Buyer demand is up
Buyers in the Fall are motivated to buy now. The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. Many buyers are looking to invest in their next home before the holidays and certainly before the end of the year. With interest rates this favorable and motivation to get settled before the family comes for Christmas, there is no wonder why demand is high this time of year. Take advantage of this opportunity by listing your home in the fall.
Inventory is low and not meeting the demand
Historically we are seeing fewer listings on the market in our area. With buyer demand up and listings low, you can see that the smart homeowners looking to get the best price for their home are listing now. If your home is what a buyer is looking for, there may not be any other options for the buyer, and they will put an offer in right away. This may cause multiple offers to come your way or at least cause your home to sell faster.
It is taking less time to close than ever before
Since the market is so competitive right now, buyers make sure that they stand out from the rest of the pack. By doing this they get pre-approved before looking for their dream home. This makes the selling process much faster because the buyer knows exactly what they can afford. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 43 days, after seeing a 12-month high of 48 days in January.
Interest rates are rumored to increase again before year end
Not only are there rumors of our next interest rate hike coming before the end of the year, but also prices are projected to appreciate by 5.0% over the next year according to CoreLogic. Now is a great time to be buying a home. Historically prices go up and interest rates follow suit. Not only is this great news for the people who will want to buy your existing home, but it is also great news for you and your next home investment! By moving up into your next home now you save in monthly loan costs and in closing cost.
Fall lends itself to a beautiful backdrop and can help your home show better
Let’s face it, a fantastic first impression leaves a lasting impression. The fall is a beautiful time of year. With the changing of the colors, it’s easy for homeowners to give an excellent first impression. Older homes can suddenly have a cozier charm to them. Curb appeal in the fall makes your home easy to sell!
Here you have five reasons to sell your home in the fall. As you can see, fall may be the best time of the entire year to sell. If you are ready to put your home on the market, we would love to assist you in this process. Give us a call today!