Wondering If You Should Sell Your Home? Let’s Address Your Concerns
Are you on the fence about selling your home? It’s natural to have questions like, Does moving make sense in today’s market? or What if I can’t find a home I love? These uncertainties can make the decision feel overwhelming.
Let’s break it down and tackle one of the biggest questions homeowners face.
Is Moving a Smart Choice Right Now?
If you already own a home, you might be hesitant to sell because you’re concerned about trading your current mortgage for a higher rate. However, there’s a silver lining that could make moving more realistic than you think: your equity.
What is home equity? It’s the difference between your home’s market value and the amount you still owe on your mortgage. Over the last few years, rising home prices have significantly increased equity for many homeowners.
Dr. Selma Hepp, Chief Economist at CoreLogic, highlights this trend:
“Persistent home price growth has continued to fuel home equity gains for existing homeowners who now average about $315,000 in equity and almost $129,000 more than at the onset of the pandemic.”
This increase in equity can give you a major advantage when selling. By leveraging your equity, you could:
- Make a larger down payment on your next home, reducing the amount you need to finance.
- In some cases, purchase your next home outright with cash, avoiding mortgage rates altogether.
The bottom line: Your equity might be the key to making your move not only possible but also financially beneficial.
If selling has been on your mind, now could be the perfect time to explore your options. By understanding your equity and the opportunities it provides, you can make a confident, informed decision about your next move.
Will You Be Able to Find a Home You Love? Absolutely.
If you’re wondering whether you’ll find a home that fits your needs, you’re
likely remembering the tight housing market of the past few years. Back then,
the inventory of available homes was so low that finding the right one felt
like an uphill battle.
Good News: Finding a Home in Today’s Market is Easier
The challenges of finding a home have eased significantly. Thanks to a growing number of homes for sale, buyers now have more options than they’ve had in years.
According to Realtor.com, housing inventory has surged—up nearly 30% compared to this time last year. This increase means you’re more likely to find a home that checks all your boxes.
While housing inventory hasn’t fully returned to pre-pandemic levels, it’s currently the highest it’s been in quite some time. This creates a unique opportunity for sellers—you’ll have more options for your next home, while your current house remains appealing to buyers. It’s a win-win situation.
That said, inventory levels can vary by location. Some markets have more homes available than others, so partnering with a local real estate agent is essential. They can provide the insights and data you need to understand trends in your area and make the best decisions for your move.
Bottom Line
Don’t let concerns hold you back from selling. Armed with this information, you can move forward confidently, knowing the market conditions are working in your favor.
Let’s connect today to explore your options and create a plan tailored to your needs and local market trends.
