It’s the Perfect Storm for Sellers Right Now

Here are four reasons why now is a great time to sell your home.

When is the right time to sell your home? Most people would say spring. It’s after the holidays, and the weather starts to warm up. However, there are several good reasons this year why we think now is the best time to sell your home:

1. Inventory is still low. Year over year, our inventory is down 40%, and our sales are up 8%. This makes for a formidable market for buyers who found themselves viewing more homes, writing more offers, and paying more for their new houses. Many of them didn’t stop looking when the seasons changed and are still in the market for a new home.

2. Prices are up. Prices rose 20% year over year. Before that, prices also increased 18% from 2019 to 2020. 

3. New homes are taking longer to build. We’re fortunate to live in the Carolinas, where we don’t have to worry about seasonal construction delays. However, new homes are still down significantly because of the pandemic-era material shortages and logistics challenges. 

4. Interest rates are still low. Mortgage rates are hovering in the 3% range, and they’re expected to increase throughout 2022. This has motivated buyers to get in the market while we still have these rates. 

Inventory is down, prices are high, rates are low, and we have more buyers in the market than ever. It’s a perfect storm for home sellers.

It's time for Mike’s dad joke: What does it take for a vacant land salesperson to be good at their job? Lots. 

If you have questions about buying, selling, or anything real estate-related, give us a call or send us an email. Have a great day!