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If you’re a homeowner thinking about selling your house, you’re probably looking for the best time to make your move. That means you’re likely balancing a number of factors, like your changing needs, where you’ll go when you sell, and today’s mortgage rates in order to time it just right.
According to recent data, that sweet spot could already be here. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae finds that 76% of consumers believe now is a good time to sell.
The graph below shows the percentage of survey respondents who say it’s a good time to sell a house. The big dip in March and April of 2020 reflects how consumer sentiment dropped at the beginning of the pandemic as uncertainty about the health crisis grew. Since then, the percentage has grown consistently as more people feel confident it’s a good time to sell.
In fact, survey respondents think it’s an even better time to sell a house today than they did in 2019, which was a strong year for the housing market. The latest survey results indicate one of the strongest peaks in seller sentiment in nearly three years (see graph below):
One reason so many people think it’s a good time to sell is because there are still more buyers in today’s market than there are homes for sale. That’s driving home prices up, making it a good time to sell your house.
And if you’re on the fence about whether or not to sell because you don’t know where you’ll go once you do, know that you might have more options today than in previous months. That’s because the number of homes coming onto the market has grown each month since the start of the year. When more homes come onto the market, it gives you more opportunities to find one that meets your changing needs.
While the number of homes available for sale is growing and giving you more options for your move, inventory is still low overall. That could mean it’s a great time for you to sell. If you’re ready to address your changing needs and take advantage of today’s favorable conditions, let’s connect.
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Rents have risen consistently for several decades.
You may have seen reports in the news recently saying it’s better to rent right now than it is to own your home.
If you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you.
As you get ready to sell your house, and these items to you to-do list. A real estate professional will also provide other helpful tips based on your specific situation.
Reliable Investment Consulting is a professional team of real estate consultants focused on helping individuals sell, buy, and manage residential and commercial real estate smarter in the Washington, DC, Maryland, and Baltimore metropolitan areas. By leveraging resources used by investors, we help our clients to make more profits and dividends on their real property assets. We help our clients to sell for maximum value and buy like experienced investors
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