In normal years, the winter can be a tough time to sell your home; there are often fewer buyers, making it challenging to sell your home quickly and profitably—which often drives sellers to wait until spring to list their home.
But 2021 was not a normal year—and if you’re thinking about waiting until the spring to sell your home, you may want to think again.
A recent article from realtor.com outlined the key reasons why homeowners should sell their home this winter (as opposed to waiting for spring), including:
- There aren’t a lot of homes for sale—and the ones that are for sale are selling fast if priced right. Markets across the US are struggling with low inventory, and Indianapolis is no different. There simply aren’t enough homes on the market to satisfy buyers—and that means the available homes are selling quickly.
- Home prices are at an all-time high. As a homeowner, you want to sell your home for the highest price possible—and that time is now. Here in Indy, home prices are still running 12% stronger than a year ago, tapered off 2% from October. The most recent report can be found here
- Interest rates are increasing. Mortgage interest rates have been at historic lows for nearly two years, driving huge numbers of new buyers into the market. But those numbers are starting to increase, with the Mortgage Bankers Association projecting 4 percent interest rates by the end of 2022. This increase in interest rates could decrease buyers’ spending power—and make it harder to fetch top dollar for your home.
The Takeaway: The market is incredibly favorable to sellers this winter—so if you’ve been thinking about pushing your home sale until the spring, you may want to reconsider. Let’s talk through the details.