Many think they need to wait until the spring to sell their home. However, there are benefits to selling your home this fall.
- Less competition because there is less inventory on the market. Currently the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market. This means that in most areas there aren’t enough homes for sale to satisfy the number of buyers. By January, the number of homes on the market will again start to increase.
- Demand is still high – there are still plenty of buyers out there! Mortgage rates are low and this is causing many potential buyers to make their purchase before rates go back up.
- Typically, buyers who are looking in the fall and winter are more serious about purchasing.
- When the market is slower, the process to get to settlement can speed up which means less time from the point that your house goes under contract to the closing date.
- If you are planning to move up to a larger home, now is the time to buy. Rates are low and Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic (www.corelogic.com).
- It’s a great time of year to stage your home! Using seasonal decorations can make your house feel homey, warm and welcoming – a huge appeal this time of year!