We told you why you should buy a house in the fall, but now we’re sharing why you should SELL your house this fall.
While fall leaves may signal cooler weather and the start of a new school year, it can also be the right time for another change — selling your home. Unlike spring, fall is a buyer’s market, with many eager, prospective homeowners looking to get settled in before the arrival of the holidays.
If you think you missed your chance to make a move this year, we’re here to give you 5 reasons why selling in the fall can work for you:
- Demand is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. There are still buyers out there that are ready, willing and able to purchase right now!
- Less Competition
Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in majority of the country, there are not enough homes for sale to meet the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon!
Historically, homeowners have stayed in their home for an average of six years, but that number has be closer to nine and ten years since 2011. As home values continue to appreciate, more and more homeowners will be given the freedom to move out and move up. The choices buyers have will continue to increase. Don’t wait until other inventory comes to market before you decide to sell.
- A More Serious Buyer Pool
Sure, the spring housing market is sure to bring out buyers, but there are still those that may hold off on making their move. With more homes to choose from in the spring, they can afford to be picky, and that could extend their search by months. Come September, though, serious buyers will be feeling the pressure to make their move before the holiday season or bad weather hits.
- A Great Time to Move Up
If your next move will be into a premium or luxury home, now is the time to move up. Excess inventory available in higher price ranges has created a buyer’s market for anybody looking to purchase those homes. This means that if you are planning on selling a starter or trade-up home, your home will likely sell quickly AND you’ll be able to find a premium home to call your own.
According to CoreLogic, prices are projected to appreciate by 5.1% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
- Is it Time to Move On?
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you feel you should?
Only you know the answers to those questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.
Give the Robinson Team a call. Let us assist you in selling your home, as well as finding your next one. No matter the season, The Robinson Team sells homes!