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Should I Sell My Home Now or Wait? 

Should I sell my home now or wait? This is a question weve been answering a lot lately, so we thought it would be a good idea to whip up a helpful blog for homeowners who may be on the fence. 

We frequently remind homeowners that even with the pandemic, the housing market has remained red hot, buyer demand is high, and home prices are stable. 

The number of houses for sale today is significantly lower than the buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR): 

There is no shortage of hopeful, potential buyers, but inventory is historically low. 

When the demand for homes is higher than whats available for sale, its a great time for homeowners to sell their houses. Here are three ways low inventory can help you win if youre ready to make a move this fall. 

Let’s dig in and discover why now is the perfect time to sell.

  1. Higher Prices

With so many more buyers in the market than homes available for sale, home buyers are frequently entering into bidding wars for the houses they want to purchase. So, if you’re asking, should I sell my home now?” then be aware that buyer competition drives home prices up. This can work to your advantage as a seller, potentially netting you more for your house when you close the deal. 

  1. Greater Return on Your Investment

Rising prices mean homes are also gaining value, which drives an increase in the equity you have in your home. In the latest Homeowner Equity Insights Report, CoreLogic explains: 

In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity. 

This year-over-year growth in equity gives you the ability to put that money toward a down payment on your next home or to keep it as extra savings. 

  1. Better Terms

When we are in a seller’s market like we are today, youre in the drivers seat if you sell your house. You have the power to sell on your terms, and buyers are more likely to work with you if it means they can finally move into their dream home. 

Is low housing inventory a big deal? 

Should I sell my home now or wait depends on the state of the available inventory in your market. In the Rhode Island, Massachusetts, and Connecticut real estate markets, the answer is yes, especially if you want to sell your house at the perfect time. Todays market gives sellers immense negotiating power. However, it won’t last forever, especially as more sellers return to the housing market next year. If youre considering selling your house, the best time to do so is NOW. 

Should I sell my home now or wait? Here’s the bottom line. 

If youre interested in taking advantage of the current seller’s market, lets connect today to determine your best move in our local market. Book a free consult here.

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