2 Things Sellers Need to Know This Spring
You might be wondering what the spring housing market holds given the years’ worth of changes. These are some things to consider, according to real estate professionals, if you're going to sell your home this year.
1. Houses That Are Priced Right Are Still Selling
Updated homes that are priced in line with the market are still selling. Principal Economist of Zillow, Jeff Tucker, says:
“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”
The necessity to price your house correctly is extremely important today because the market has changed so much over the previous year. Realtor.com's Chief Economist, Danielle Hale, explains:
“With a smaller pool of buyers today and more competition from other homes on the market, home-sellers will likely need to adjust their price expectations in the market this spring.”
Despite the fact that the spring real estate market is different from what it was last year, sellers who have clear expectations and engage real estate professionals for the best guidance on selling their homes correctly are still having success. And if you're considering selling, this is excellent news.
2. Buyers Are Still Out There
Several buyers have put a hold on their plans as a result of the rising and unstable borrowing rates. However, there are still many factors that influence people's home purchases nowadays. The chief economist of Bright MLS, Lisa Sturtevant, explains how modern purchasers think:
“For some buyers, higher mortgage rates simply mean buying a home is out of the question unless home prices fall. For others, higher mortgage rates will be a hurdle but ultimately will not keep them from getting back into the market after sitting on the sidelines for months.”
That's why it's beneficial to work with a real estate agent who can put you in touch with those people who are prepared to buy a home if you're interested in selling your home this spring.
Bottom Line
This spring, there are still definite possibilities for sellers. Let's get in touch if you're considering moving forward but aren't sure if the moment is right.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.