5 Reasons Why RIGHT NOW Has Never Been Better To Sell Your Home
It's no secret that Covid has affected the economy in a dramatic way. With businesses being forced to shut down in record numbers, the economy has definitely slowed down over the last year.
Despite the economic problems that seem to be putting pressure on almost every industry, real estate in Bucks County, among other places, is incredibly strong. Whether you are concerned about real estate in Bucks County or another area within the US, this article will break down the five reasons why right now is the perfect time for you to think about selling your home.
Mortgage Rates Are Low
The best time to sell your home is when mortgage rates are low. With low mortgage rates, more people will be interested in purchasing a home to take advantage of them. Recently, mortgage rates have dropped below three percent. This is the lowest they have been in over 50 years. Since rates are so low, it is the perfect time for you to be selling your home.
Inventory Is Low
When Covid started affecting the country, the number of houses that were on the market were already low. During the pandemic, many people who were considering selling their house decided to put it off for the time being. This means that housing inventory is incredibly low. When inventory is low, it makes it much easier to sell your home fast. As long as your home is in relatively good condition, it is highly likely you will have offers and be able to sign papers quickly.
Market Demand is High
Because of the low home inventory, the market demand is extremely high. Whenever new houses are being put on the market, they are quickly receiving several offers from hungry buyers. Many houses are being sold sight unseen, something that wasn't nearly as common in previous years. While market demand is high everywhere, it makes the market for houses in great neighborhoods that much more sought after.
Prices Are High
Due to the higher demand and the low inventory, home prices are up. While many homeowners that were planning to sell their homes were worried that the market would force them to sell for less, the opposite is actually true. As long as your home has been properly maintained and is in decent condition, you can expect to get top dollar for your home in the current market.
Home Buyers' Needs Have Changed
Covid caused several changes in the way that a lot of us have been living our lives. One of these major changes is how many people are now working from home. Once people started working from home and realized they may still be for the foreseeable future, their current home started feeling a bit smaller than normal. If you want to sell a home that has two or more bedrooms, you can be confident that someone will want to buy it for the extra space compared to their current dwelling.