If you are planning on selling your home in 2019, chances are you might be waiting for spring and summer to roll around before putting your home on the market. However, could you be missing out on selling your home quicker if you list it later opposed to earlier this year? Parry Custom Homes, a premier Pittsburgh on your lot builder, shares tips on when it might be best to sell your home this year.
Although conventional wisdom in the real estate world has always told sellers to wait until spring and summer to list their homes, it may not hold up to the current era we are in. Inventory has been at record lows, due to the high demand of buyers. More buyers in the market than homes, which is a huge benefit to sellers.
On the flip-side, buyer demand is currently abnormally strong for this “off-season” of selling, most likely due to the climb in mortgage rates that was seen come since summer. The new year is also expecting to have even more economic growth. So, if you are in the market to buy a home, it is most likely going to stay competitive.
However, the main push in telling buyers this year to sell their home earlier in the year is so they can then purchase a new home, since that is most likely the main reason sellers are selling their home in the first place. This allows sellers to have a better chance at getting into the buyer’s market if their home sells earlier in the buying season, opposed to later when their options might be limited. Also, as interest rates increase, waiting to sell could end up costing the seller more than selling sooner and locking in today’s rates for their new home.
The biggest challenge that will come with the growth in sales this winter will be inventory. The market overall continues to favor sellers, but that won’t last forever. Higher financing costs will eventually dampen demand.
So, if you are planning to sell your home in 2019, chances are being the early bird this year might get you the worm after all.
Parry Custom Homes is an established homebuilder in the Pittsburgh area. Call or contact us today for more information.