Following the last two years of economic uncertainty and challenges of low house prices and high-interest rates, the question for many is: Should I sell my house now?
Find a Trusted Agent
If you are considering selling your house, it is notoriously difficult to understand the current real estate market dynamics on your own. You may lack perspective and objectivity to make an accurate and reliable assessment or judgment concerning the real estate market. Even if you are able to be objective and accurate about the nature of the real estate market, you are still faced with the challenge of figuring out the right time to sell your house. The burden that fell hard on the market amid pandemic-related pressures in the last three years is starting to ease, but that doesn’t mean there aren’t still challenges. Hence, only a good real estate agent will be able to guide you with a professional and unbiased eye, helping you meet your selling objectives.
Whether it is for a sale, a rental or the purchase of a house, a real estate agent is the key that will ensure the smooth running of your transaction. It is critical to consider hiring a real estate agent, even if you must pay a commission or realtor fees. Realtors are educated, trained and experienced in dealing with real estate. They have more hands-on knowledge, which means that they will act in your best interest. Hiring a trusted real estate agent means you’ll have more chances of landing up a better offer or a faster sale.
Why Now Is the Right Time to Sell Your House?
Worldwide, the past twelve months have been a roller coaster ride. The worst disasters of 2022 fell across the spectrum, from COVID-19 Omicron variants to Russian invasion of Ukraine, droughts in Uganda, earthquakes in Afghanistan and floods in India and Nigeria. Economic consultancy informetrics said that 2022 was the “worst year” for the housing market.
Surprisingly, some say that 2023 is the right time to sell.
Henry Cockerton, head of Residential, said that there is now a huge percentage of people who need to move; for a change in personal circumstances, job relocation or perhaps to save on energy and bills – so, the market continues!
A quick overview of the current market shows many fundamental changes. “Depending on where you live, housing demand has most likely jumped,” says Jade Lee-Dury, a realtor with TXR Homes in San Diego.
So, here are some reasons why now might be the perfect time to sell:
There Are Many Eager Buyers Right Now
COVID-19 has undoubtedly changed the lives of many as several home-buying projects were ground to a halt due to economic hardships. However, in 2023, a more stable scenario played out and the housing market is projected to improve more in the ensuing months. Consequently, buyers are now more eager than before to buy properties,
In fact, as per the latest report from Showing Time Showing Indes, buyers will be very much active even during the winter season.
You Might Get the Best Price for Your Home
Studies revealed that selling prices have hit record highs this year. So, if you want to sell your property, now is a great time to put your house on the market. Timing your sale during this peak selling season can bring you a higher price. For example, you may even sell your house for a lot more than what you’ve bought it for.
Property Listing Volume Is Low
Core Logic Data reported a fall in the number of new listings for this time of the year. However, on the demand side, there are lots of home buyers out there. So, this is the perfect time to get your property listed.