Should You Sell Your Home in 2019?
Is 2019 truly a buyer’s market? Nick Ron, CEO of House Buyers of America, believes so. He suggests that buyers who are on the fence about the right time to sell their homes should take the initiative and act now rather than wait for the market to change in one direction or another significantly.
“Who knows what’s going to happen in those years,” Ron says. This isn’t to suggest that home sellers should throw caution to the wind and pay no mind to the market whatsoever. Instead, it indicates that attention should be placed less on the American real estate market as a whole and more emphasis should be placed on local sales statistics and price points.
Current Home Growth Trends Home sales in the United States have dropped significantly over the last several years. In 2018, there were fewer new buyers due to the inflated interest rates introduced by the IRS. The increased cost of median home sales may also be a contributing factor to the stark decline in closings.
A July 2019 article published by Reuters reveals that home prices are at a “record high.” The report cites figures from The National Association of Realtors, which reveal the average home cost has risen 4.7 percent since 2018 to $285,700.
Reasons to Sell in 2019 Although the market isn’t booming, there are still some strong reasons to consider listing a property this year. For starters, there are always new buyers entering the market, so it isn’t completely stagnant. Those who have a house with high selling points or who have high equity can still make a decent profit.
The 2019 mortgage rates, although higher than the previous year, still aren’t at a record-high. A 30-year, fixed-rate mortgage is currently 4.35 percent, so it could be beneficial to sell while actively searching for a new home.
Every seller will have their own personal reasons to list their home at a particular time. However, it’s equally important to be objective and know when to take a risk as there may not be a “perfect” time.
Sellers Are Buyers It’s essential to pay equal attention to the buyer’s market. Selling a house means buying a new one or at least finding a suitable rental. Long-distance moves will take considerably more time and effort to solidify, so it’s best to start the selling process well in advance.
Article originally published on LesterParris.com