Some homeowners are uncertain in this market if they should sell or stay where they are. They’ve got unanswered questions that hold them back. There are times their concerns are based on misconceptions from media and national headlines. If they would just talk to us about it, they’d see their concerns aren’t holding them back at all.
If uncertainty is keeping you from making a move, it’s time for some real answers.
Is it a good idea to move now? As a homeowner you may be tempted to wait because you don’t want to sell and take on a higher mortgage rate on your next house. But your move may be a lot more feasible than you think, and that’s because of how much your house has likely grown in value.
Do you know anyone in your neighborhood that has sold their house recently? Did you see how much it sold for? Homes have increased significantly in recent years. According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), the typical homeowner has gained $147,000 in housing wealth in the last five years.
That’s significant – and when you sell, that can give you what you need to fund your next move.
Will I be able to find a home I like in the right neighborhood? Markets were very tight in recent years and the sellers held the upper hand. But in today’s market, this is starting to ease and in some cases has completely reversed.
Information from Realtor.com shows how much inventory has increased – it’s up nearly 25% compared to this time last year.
Even though inventory is still below more normal pre-pandemic levels, it has vastly improved in the last year. Experts say it could grow another 10% to %15 this year. Your looking at the best chance in years to find your perfect home.
Are there buyers in the market? While homes are staying on the market longer they are selling. Resales in 2024 were roughly 4.24 million homes (excluding new construction), from the National Association of Realtors (NAR). That number should rise in 2025.