“Here are the top two reasons motivating sellers’ this spring.”
Wondering if you should sell your house this year? As you make your decision, think about what’s motivating you to consider moving. A recent survey from realtor.com asked why homeowners are thinking about selling their houses this year. Here are the top two reasons (see graphic below):
Let’s break those reasons down and explore how they might resonate with you.
1. I Want To Take Advantage of the Current Market and Make a Profit
When you decide to sell your house, how much you’ll make from the sale will likely be top of mind. So, here’s some good news: according to the latest data, the average seller can expect a strong return on their investment when they make a move. ATTOM explains:
“The $112,000 profit on median-priced home sales in 2022 represented a 51.4% return on investment compared to the original purchase price, up from 44.6% last year and from 32.8% in 2020.”
Even though home prices have declined slightly in some markets, they’re still much higher overall than they were just a few years ago. To understand what’s happening with home prices in your area and the current value of your house, work with a local real estate professional. They can give you the best advice on how much you could gain if you sell this year.
2. My Home No Longer Meets My Needs
The average person has been in their house for ten years. That’s a long time when you think about how much may have changed in your life since you moved in. And typically, those changes have a direct impact on what you need in a home. Whether it’s more (or less) space, different features, or a location closer to your work or loved ones, your current house may no longer check all the boxes of what feels like home to you. If that’s the case, it could be time to work with a real estate agent to find a better fit.
Bottom Line
If you’re thinking about selling your house, there’s probably a good reason for it. Let’s connect so you can make a move that’ll help you accomplish your goals this year.
What’s Ahead for Home Prices?
The housing market is shifting, and it’s a confusing place right now. Let’s connect so you have a trusted professional to help you make an informed decisions about what’s happening in our market.
The Emotional and Non-financial Benefits of Homeownership
If you’re looking to put down roots, homeownership can help fuel a sense of connection to the area and those around you.
The Cost of Waiting for Mortgage Rates to Go Down
As mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can afford.
How To Prep Your House for Sale This Fall
Taking the time upfront to prep your house appropriately and create a solid plan can help bring in the greatest return on your investment.
If You’re Thinking of Selling Your House This Fall, Hire a Pro
A trusted real estate advisor will keep you updated and help you make the best decisions based on current market trends.
The True Strength of Homeowners Today
Home equity allows homeowners to be in control. This is yet another reason we won’t see the housing market crash like we saw in 2008 when many owed more on their homes than they were worth.