The 4 Best Reasons to List Your Home NOW To Sell in 2018, You’d Better Hurry!
Are you wondering if this year is the best time to list your home? If so here are the 4 Best Reasons to List Your Home NOW To Sell in 2018.
1. Interest Rates are still low, this is drawing buyers into the market
By historical standards, today’s 30-year mortgage rates hovering around 4% are still very low, and there has been a loosening lending standards. It is widely expected that rates will rise the only question is when.
That means that NOW it is a good time for buyers to act to take advantage the low rates we never know what the future will bring. For those thinking of selling the time to list is NOW. It is especially advantageous for those that are selling with a plan to buy a new home.
2. Inventory remains low—and demand high
The total number of homes on the market fell 19% year over year from 2016 to 2017. This is the biggest annual drop since 2012, and its part of a consistent pattern of very limited and decreasing housing supply. At the same time Demand (Sales) has risen dramatically and persistently since 2012. Of course, the fewer homes there are on the market, the easier it is to sell, and the higher the price you can expect to get. This is borne out by numbers: Las Cruces Home prices have increased 6.1% since last year. This is the greatest rise since the recovery of 2012.
Simply put, there are more buyers than available homes.
Sellers, that means this is your opportunity. NOW is a very favorable seller’s market which pushes up prices, but the earlier you can list, the better off you’ll be.
3. People have more money in their pocket
Record levels of consumer confidence, low unemployment, and stock market surges are setting the stage for high home buyer turnout in 2018. The housing market is already reflecting this boom as we have stated above. Incomes are growing and people are finding better and more stable jobs, ” Buyers” are feeling pretty good about their finances. Thanks to the new tax legislation, it is expected that is that most people are getting a tax cut adding to spendable income which should help buyer demand. All of these factors combined mean more buyers could be on the hunt, with more money in their pockets to spend on a home for sale—possibly yours!
4. Millennials are ready to commit
Millennials, often crippled by student debt, have been especially hampered by rising interest rates and high home prices. But as we have said with low interest rate and prices not yet too high conditions are ripe in 2018 for these first-time buyers to take the plunge, and experts predict that millennials will make up a vital part of the buyer pool over the coming year: Millennials could account for a significant percentage home buyers 2018. As this group move into their 30s, they’re looking to move from renting to homeownership. More home buyers flooding the market can only mean good things for sellers—at all price points. Our advice is get out ahead of the spring –summer rush.
I’m constantly talking to home buyers in Las Cruces, and I can give you a precise idea If you want a personalized and accurate estimate of the value of your home in the current market.