The Reasons You Should Sell Your Home In 2018

If the thought of selling your home this year hasn’t crossed your mind, you might need to think again. Real estate financial experts and economists acknowledge that 2018 is a seller’s market.

A seller’s market is defined by the laws of supply and demand. When homes for sale (inventory) surpass the number of buyers, you’re looking at a seller’s market.

Another seller’s market sign is when homes are selling faster and for prices above the listing price. If you sell in this real estate environment, you might get multiple bids and offers.

Here is a list of reasons why it might be a good idea to sell your home in 2018…

Tight Inventory and High Demand

There are more buyers competing for fewer homes available, especially in red-hot markets where the building is expensive and land remains scarce. This puts sellers in the driver’s seat.

Right now as a home seller, you can set your price on the higher side. Not so high that no one can afford it, but high enough to be competitive and get an offer. Also, don’t get overly excited on your first offer, be patient because another one could be right around the corner.

To buy some time, simply tell your buyers that you’ll require a few days to mull over their offer. During that time, as you wait for another buyer to knock, prepare your counteroffer. If you get multiple offers, then you’re close to a bidding war and closer to getting more than the asking price.

Low-Interest Rates

The current interest rates may not be the lowest, but they’re pretty good. A 30-year mortgage rate is approximately 4.40%, according to Bankrate. The readily available and affordable mortgage rate keeps buyers looking for homes. However, the rates are slightly ticking up, which also works in seller’s favor because it makes buyers want to act quickly.

Growing Economy

The economy is doing well right now, which depending on your political leanings, may be due to the new administration or a continuation of paths set before. Either way, a strong economy usually equates to more buyers in the market. The rate of unemployment is declining, the GDP is up and consumer confidence is rising. More buyers have money to spend on new homes.

Rising Home Values

Home prices are rising through the country. Homebuyers know that buying an appreciating asset is a great decision.

However, in the middle of all this growth are terms like “bubble burst”, that buyers should be aware of. Also, the Federal government is probably going to raise interest rates. As such, now is the right time to sell.

Millennials Entry

Now more than ever, Millennials seem to be more interested in owning houses. Although most of them witnessed the Great Recession and are struggling with student loans, they have ultimately turned over a new leaf. In 2018, they may account for nearly 43% of homebuyers as many factors favor them as first-time buyers.

The Rise of FSBOs (For Sale By Owner)
For sale by owners are on the rise according to Fizber. This is because sellers can save cash, and in seller's market, they can get away making more money when they don't pay for agent fees, making this an excellent opportunity for real estate investors.  

2018 And Beyond Outlook

Many signs point to 2018 being an optimal year to sell a home. Rising interest rates and market growth hitting a tipping point are things that could happen, but no one has a crystal ball. If you’re considering selling this year, you can move forward confidently that 2018 is a seller’s market.

To learn what selling options are right for you and your situation, you can visit sites  Sold.com where they claim they show you a better way to sell your home.