Old conventional wisdom says that the housing market goes dry during November and December. But that’s not what the facts are saying. If you’re thinking about selling your home, here are three reasons to consider putting your house on the market before 2014 ends:
Motivated buyers + less competition
It’s a common assumption that no one wants to buy homes during the holidays—but that assumption ignores some especially motivated buyers who won’t let cold temperatures or holiday activities stand in their way. These are buyers who are far more determined to find a home than some of the more casual browsers from the busy season.
Many sellers take their homes off the market during the holiday season, either because they are busy with the holidays or because they believe there aren’t any buyers out there. This means those motivated buyers have fewer homes to choose from.
The combination of determined buyers and less competition at this time of year is a net win for you.
Special advantages of 2014
Typically the housing market has a 6-month supply of homes. In the past couple of weeks, that number has dropped to 5.1 months—meaning there’s significantly less competition for your home on the market.
This advantage is for a limited time, though. Experts predict that in the next few months, more and more sellers will be flooding into the market after a two-year trend of holding off. In addition, construction of new homes is starting to increase, meaning that in a few months buyers will have more options to choose from.
If you’re serious about selling and want the process to happen quickly, the end of 2014 is an ideal time to see that happen.
Advantages for you as a buyer
Don’t ignore the flip side of the coin, either. Chances are you’re looking to sell your home so you can buy another one. Here at the end of 2014 there are several compelling reasons to buy, including currently low mortgage rates and home prices that are set to rise in the next several months.
If you’re ready to sell your home, or would like someone to help you decide if you’re ready to take the next step, contact The Haro Group. Our specialty is selling homes quickly and at the best possible value!