Why 2022 Is The Best Time To Sell Your Home
When it comes to the real estate market, there’s always the question of when the ideal time is to sell one’s home. Many market analysts believe that it will be a strong year for home sales amid robust demand as we move into 2022. The housing shortage, which has been characterized by many buyers looking for homes and very few available homes, will likely persist. However, this situation is expected to change in the future. While buyers are eager to find property to move into, the lack of supply in many areas of the U.S. contributes to increasing home prices. Ultimately, it remains a sellers market, which benefits homeowners who choose to sell sooner rather than later.
Mortgage Rates & Home Supply Are Currently In Your Favor
Although mortgage interest rates have been quite low over the past few years, particularly in the midst of the ongoing pandemic, they are expected to rise at least slightly this year. This may sound like it could be detrimental for potential sellers, but it is believed that, overall, rates will stay quite low compared with rates found in the 1990s to 2010s. That being said, those considering selling their homes may want to do so in the short term because if mortgage rates do continue to rise there may be a point in which prospective buyers decide to hold off.
According to the Federal Housing Finance Agency (FHFA), home prices in the United States rose 18.5% in the third quarter of 2021. As such, it is quite likely that home prices will continue to be high as this year progresses. This provides sellers with an exceptional opportunity to get significant value out of their current properties. The new year also begins with a severely depleted housing market. This could allow you to sell your home quickly at a fair price. You may even find your home in a bidding battle due to the constrained inventory. As a result, you could end up getting a far higher offer than you even thought possible.
The Seller’s Market Won’t Last Forever
It may also be best not to procrastinate in looking to sell residential property, as it is believed that this year prospective sellers are apt to list earlier rather than waiting for spring or summer to arrive. This increased supply and competition could be detrimental in terms of being able to get the absolute top price. At the same time, more new homes are likely to hit the market this year, making it even more important to sell quickly. Just two years ago, there were close to 1 million new single-family properties okayed through building permits. While much of the construction has been held up due to ongoing material supply and workforce issues, it is thought that many new homes will be ready for sale before the end of the year. The greater number of appealing houses there are on the market, the harder it may become to sell yours for the desired value.
For those that are required to move for any number of reasons, the sellers market means that now is an ideal opportunity. It is also a great time to sell for those that have been thinking of moving to another city or even another state, as the money accrued from the sale can be used to invest in the new property.
Swift Homes Will Give You Top Cash Value for Your Home in 2022
If you’re interested in selling your home, Swift Homes is here to help. Our process is straightforward, and the cash offers are highly competitive and consistently reliable. Don’t subject yourself to the exorbitant fees, inconvenient showings, and painful uncertainty that come along with traditional real estate transactions. Contact Swift Homes today at (877) 861-2466.