May 20, 2024
Now’s a Great Time To Sell Your House
Thinking about selling your house? If so, to figure out your next move, you might be weighing factors like today’s mortgage rates and your own changing needs.
Here’s something else to consider. According to the latest Home Purchase Sentiment Index (HPSI) from Fannie Mae, the percent of respondents who say it’s a good time to sell is on the rise (see graph below):
Why Are Sellers Feeling so Optimistic?
Right now is traditionally the best time of year to sell a house and a reason providing today’s sellers some encouragement. A recent article from Bankrate says:
“Late spring and early summer are generally considered the best times to sell a house. . . . While today’s rates are relatively high, low inventory is still keeping sellers in the driver’s seat in most markets.”
Because these are the seasons when the most people move, that means buyer demand grows. And because there still aren’t enough available homes for sale to meet that demand, sellers retain an advantage. According to Rocket Mortgage:
“Homes that are listed at the end of spring and the beginning of summer typically sell faster at a higher sales price.”
What Does This Mean for You?
As more sellers have understood that current conditions are skewed to provide sellers a real edge, we’re seeing more homeowners put their homes up for sale. So if you think this might be the right time to join in the action, it’s a good idea to start preparing.
A local real estate agent can help you prepare your house for sale by offering advice on where to spend your time and energy to best ensure both its appeal to the buyers in your area and the likelihood of fetching the best possible price.
Bottom Line
Listing your home during the peak buying seasons of spring and early summer, increases the odds of a quick top-dollar sale. Whenever you’re ready to make the most of today’s seller’s market, let’s get in touch.