(2 min read)
New year, new goals. Are you heading into 2021 with the intention of selling your home? Although your first instinct may be to wait until the Spring when the weather is nicer, it may be more beneficial to list your home sooner. According to Keeping Current Matters, here's why:
1) Mortgage Rates are Historically Low.
Can you believe that mortgage interest rates were over 12% in the 1980s? Real Estate experts are forecasting an optimistic year for 2021 as interest rates continue to remain at a record low, averaging at about a 2.9% bankrate.
2) Home Equity is Growing.
Did you know that almost half of the homes in the USA are mortgage-free? On average, 42% of all homes in the country are owned free and clear of mortgage payments. Using your increased equity is a great opportunity to buy a home more suitable to your changing needs, especially during these challenging times.
3) Homes are Appreciating
Real Estate experts are predicting that homes will continue to appreciate through 2021. With this said - and taking low mortgage rates into consideration - buying a home now before prices rise will be a long-term investment.
4) Buyer Competition is High.
The demand for homes is extraordinarily high, but the inventory is low. As a result, homes are seeing fewer days on the market. Listing your home now could mean more eyes on your property, as opposed to waiting until Spring when we typically see an influx of new property listings.
This is your moment. Take advantage! Contact one of our agents today and we'll guide you through the whole process. Here's to a prosperous 2021!
Data source: Keeping Current Matters