Now is a great time to sell, and these are the four main reasons why.
Now is one of the best times to sell a home that I’ve ever seen. However, this doesn’t apply to everyone. My team and I specialize in helping people sell homes when unforeseen life circumstances arise. It may not be the right time for you personally to sell, for various reasons.
Nevertheless, if you’ve been considering or need to sell, today’s housing market presents an incredible opportunity. Here are the top four reasons that right now is the best time to sell:
1. Inventory is exceptionally low. To put this into perspective, last year at this time Orange County as a whole had 7,500 houses available for sale, and even then we were still in a low inventory season. Today, Orange County has fewer than 5,000 houses available for sale. Inventory is about 30% to 35% lower compared to this time in 2019. If you thought it was slim pickings then, now we’re in a whole other ballgame.
2. Interest rates are historically low. When we look at the strongest seller’s markets from the past 20 years, 2001 to 2005 was the best period, where interest rates were hovering around 5% to 6%. Today, rates are in the high twos and low threes. Even though that earlier market was appreciating, buyers are more excited to buy now.
3. Buyer demand and confidence are through the roof. Buyers feel good about purchasing properties right now; they feel it’s a great life decision and investment.
4. There’s no end in sight. Many of my current clients are asking if prices are going to fall, but everything we see right now indicates this will continue for a while. Someday prices will decrease; the real estate market is cyclical. However, we don’t expect prices to drop for another 18 to 24 months, maybe even longer.
If you’re considering selling, you have very little competition, buyers want to buy, and interest rates are so low it’s almost free to borrow money. All this is a recipe for success.
If you’re thinking about selling, reach out, and let us know how we can help. The real estate agent you hire matters. Just because it’s a strong seller’s market doesn’t mean you don’t need a professional’s help. Strategy is still required for you to sell in the right amount of time for top dollar.
If you’re interested in selling your home or want to know a bit more about how the process works, reach out to me or my team. We would love to help you. Also, if you ever have anything you want me to cover in a future video, please let me know.