Reasons To Sell Your Home
The market is still holding strong and most homeowners have a good amount of equity in their homes. Now might be the time to sell if you want to get the equity out of your current home. Here are several reasons why those in the industry say it is still a good time to sell.
1. Houses are appreciating at a historical pace. This past year marks the fastest period of home price growth in American history. Just to see the difference, in 2012 homes appreciated around 1.3% nationally while in 2022 homes appreciated around 19.8%! This means that right now your home has a big increase in equity.
2. Houses are selling at a record-breaking rate. June 2019 to June 2020 saw an average of 51 days on the market, while June 2020 to June 2021 saw a record pace of one week! The current seller’s market and the huge buyer demand has dramatically increased the speed of the selling process. Currently, sellers are pocketing full asking price or more.
3. Rent is fluctuating wildly. When the property prices started to increase, so did the monthly rent for renters. In fact, in December of 2021, rent increased on average by 14.1% and increased even more in high-demand areas like Austin, Texas.
If you are in the market for a new home, now is the time to sell your current home and purchase a new one. To do this, check with a local Realtor who can help you with the home buying process.
