While the new year is peaking its head around the corner, don’t be surprised to see more buyers around that same corner … more today than in years past.
Experts are anticipating a flurry of buyer activity in the winter months ahead. What does that mean to the seller? The real estate market is heating up … even in these coming winter months! If you are planning on listing your home, there’s no need to wait until the spring, unsure if you are “ready” to list your home – speak to a real estate professional to discuss your specific real estate goals.
Buyers are warming up to the idea of a winter purchase. The pandemic has brought about significant lifestyle changes for so many, one of which is working remotely. This change appears to be something many have grown accustomed to and for many, may just be here to stay. Let’s not forget about retirement … both lifestyle changes have brought about different wants and needs when thinking about the comforts of their home.
Our Chief Economist at the National Association of Realtors (NAR), Lawrence Yun predicts that we may see a significant number of sales this winter compared to past winter seasons going back as far as 2006.
Why list now you ask?
Buyer activity – While the number of buyers out looking for a home this winter may be slightly lower compared to the spring market, you can rest assured, the buyers out there now are serious buyers looking to secure their home.
Home prices leveling off – It appears prices may be leveling off, so the expectation of higher gains in the spring and summer months may be a bit unreasonable for most.
Interest Rates – Let’s not forget about interest rates … they are inching their way. What that means to you and the buyer is this … when interest rates go up, the buyer’s buying power goes down. That’s not good for either side. Buyer’s may be a little less willing and/or able to pay top dollar for a home as they did in the past 20 months of real estate frenzy.
My famous saying is … “we only know what we know now.” Who could have predicted the market would be what it was throughout the pandemic? My best advice… first and foremost, you need to be ready. If you have made the decision to sell your home, you need a plan to move forward. Speak to a real estate professional to discuss your specific real estate goals to establish a “plan of action” that makes sense and works for you! Discuss the strategies of the “what if” my house sells quick, where do I go? How do I purchase the home I want to move to if I need the proceeds of my current home sale to purchase it?” These are just a couple of the many good questions you need to discuss with a real estate professional. With their knowledge and experience, and a plan of action, you should be able to make the move you’ve been wanting to make, and now may be the time for you to decide if it is the best time for you to put those wheels in motion.
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