4 Major Incentives to Sell Your Home This Fall

If you're trying to decide when to sell your house, there may not be a better time to list than right now. The ultimate sellers' market we are in right now won't last forever. If you're thinking of making a move, here are four reasons to put your house up for sale sooner rather than later.

1. Your House Will Likely Sell Quickly According to the Realtors Confidence Index released by the National Association of Realtors(NAR), homes continue to sell quickly –on average, they're selling in just 17 days.  As a seller, that's great news for you. Average days on market is a strong indicator of buyer demand. And if homes are selling quickly, buyers have to be more decisive and act fast to submit their offer before other buyers swoop in.

2. Buyers Are Willing To Compete for Your House.  In addition to selling quickly, homes are receiving multiple offers. That same survey shows sellers are seeing an average of 4.5 offers, and they’re competitive ones. Realtor.com sums up the impact this can have: “Buyers today know bidding wars are a likely outcome and they're coming prepared with their best offer in hand. Receiving several offers on your house means you can select the one that makes the most sense for your situation and financial well-being.”

3. When  Supply  Is  Low,  Your House  Is  in  the  Spotlight.  One  of  the  most  significant  challenges  for motivated  buyers  is  the  current  inventory  of homes  for  sale.  Though  it’s  improving,  it remains  at  near-record  lows.  The  chart  below shows  just  how  low  today’s  inventory  is. If you’re  looking  to  take  advantage  of buyer demand  and  get  the  most attention for  your house,  selling  now  before  more  listings  come to  the  market might be  your  best option.

4. If  You’re  Thinking of  Moving Up, Now May Be the Time.  If your  current home  no  longer  meets  your needs,  it  may  be  the  perfect  time  to  make  a move. Today,  homeowners  are  gaining  a significant  amount  of  wealth  through growing  equity. You  can  leverage  that  equity,  plus  current low  mortgage  rates,  to  power  your  move now. But  these  near-historic  low  rates  won’t last  forever. Experts  forecast  mortgage  rates  will  start  to rise  in  the  months  ahead.  In  their  forecast, Freddie  Mac says: “While  we  forecast  rates  to  increase gradually  later  in  the  year,  we  don't expect  to  see  a rapid  increase.  At  the end  of  the  year,  we  forecast  30-year rates  will  be  around  3.4%,  rising to 3.8%  by  the  fourth  quarter  of  2022.” When  rates  rise,  even  modestly,  it’ll  impact your  monthly  payment  and  by  extension  your purchasing  power.

Bottom  Line Buyers’ Market (>  7  Months) Neutral  Market  (6-7  Months) Today Sellers’ Market (<  6  Months) NAR Don't  delay.  The  combination  of  housing  supply  challenges,  low  mortgage  rates,  and extremely  motivated  buyers  gives  sellers  this  season  a  unique  opportunity.  If  you’re thinking  about  making  a  move,  let's  chat  about  why  it  makes  sense  to  list  your  house sooner  rather  than  later.