Like anything else in life, timing is crucial, and 2019 is proving to be a banner year for our area market.
One contributing factor to our red-hot market is the fact that there’s been a surge of buyer demand from millennials, and this is great news if you’re a seller.
Yet, despite all of this positive news, analytics experts such as CoreLogic assert that we’re in a housing bubble, and based on our piece of the national market, I believe there is some truth to these claims.
There are a couple of factors that make market conditions especially good right now, but which aren’t likely to last:
1. Rates are still historically low. Sitting at or slightly below 5% on average across markets nationwide, today’s rates are still incredible when compared to what buyers could obtain in the past. Despite these rock-bottom lows we’re enjoying, an uptick in rates is an inevitability—there’s no way around this. Buyers will retreat to the sidelines when that happens, which makes it all the more reason to put your home on the market now.
2. Inventory is at a perfect balance right now. This isn’t true for all niche markets—luxury homes are sitting on the market for longer periods, for example. But if your home has visual appeal and is properly priced, it’s sure to sell fast.
These two reasons should be major drivers in your motivation to sell if that’s been on your mind of late. These factors grant you more leverage and aren’t going to hold forever—prices will likely level off and maybe even decrease after this year. There’s truly no time like the present to jump into our market and capture top dollar for your home!
If you’d like for my team and me to take a closer look at your property and give you an honest, accurate market valuation, please give us a call at 480-207-2645. I look forward to hearing from you!