Now…. is a Really Good Time to Sell
If you’re considering selling your home, 2020 is the time to do it because these favorable conditions won’t last forever. Right now there is a unique window of opportunity to sell your home quickly and for the maximum price.
LOW INTEREST RATES, LOW INVENTORY
Though mortgage rates have been gradually rising, they are still historically low, which means more buyers in the market to buy in order to get in on the lower rates before they go back up. Mortgage rates could be back up to 5% by the end of this year.
Housing inventory still hasn’t caught up from effects of the last recession. This low inventory creates a very high demand. Buyers are in all out bidding wars over the same home, investors are walking around offering cash, and homes are selling for top dollar in almost every price range.
MORE BUYERS, MORE MONEY
Incomes are rising and the unemployment rate remains historical low. For the time being, many people are seeing more money from their take-home pay as new tax legislation kicks in.
Millennial’s are increasingly ready to buy. A large percentage of the millennial demographic are reaching the peak ages to consider buying over renting.
Yet, inevitably, this market so favorable for sellers will come to an end. Inventory will catch up with demand. With more houses, buyers will have more choices and negotiating power, which means this window of time to sell under the best conditions won’t be open too much longer.