Many homeowners hesitate to sell their homes due to unanswered questions and doubts. However, these concerns are often based on misconceptions rather than facts. If you’re unsure about whether it’s the right time to sell, talking to a real estate agent could clear up any uncertainties. You might find that your worries aren’t as big of a hurdle as you thought.
If you’re feeling uncertain about moving, it’s time to get the real answers. Here’s a look at some common questions homeowners have about selling their homes and the data that answers them.
- Is It a Good Time to Sell My Home?
One of the biggest concerns for homeowners is the fear of selling and then dealing with higher mortgage rates when buying a new home. While this concern is valid, it might not be as much of a barrier as you think.
The good news is that home values have likely increased significantly since you bought your home. According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), the average homeowner has gained $147,000 in housing wealth over the past five years. This means that selling your home could provide you with the financial resources to afford your next move, even if mortgage rates are higher than before.
- Will I Be Able to Find a Home I Like After Selling?
Many buyers have struggled to find a home in recent years due to low inventory and high demand. However, the market is now much more favorable for those looking to purchase a new home.
According to Realtor.com, housing inventory has increased by nearly 25% compared to the previous year. Although inventory is still below pre-pandemic levels, this increase is a positive sign for homebuyers. Experts predict that housing inventory will grow another 10-15% this year, giving you more options when searching for your next home. This means you’re more likely to find a property you love in today’s market.
- Are Buyers Still Active in the Market?
If you’re wondering…
