It’s a Seller’s stage! Here are four reasons you might want to list your home:
- Low housing supply: Tight inventory is a main reason the ball is still in the sellers’ court.
- Fewer cash buyers: All-cash and investment buyers helped buoy home sales in the last couple years. And while the acceleration of home prices has slowed from its recent double-digit growth, experts still expect modest gains this year, but with fewer cash buyers.
3. Higher interest rates: While mortgage rates remain low, experts predict more buyers will enter the market in the coming months.
- Rising rents: Rising rental prices could motivate tenants to make the leap into home ownership. Rent prices have risen 15% nationwide in the past five years in 70 metro areas across the U.S. and income growth hasn’t kept up, according to NAR.