Homes sell in the spring, we all know that, or have at least heard that, and for that reason alone, many homeowners hold off on putting their homes on the market until then. Will that be a good strategy this year or should you consider listing now to beat out the competition?
It is true; many sellers do list their homes in the springtime. The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2017. Last year, the number of homes available for sale in January was 1,680,000. That number spiked to 1,970,000 by May!
What does this mean to you?
Simply put, the other listings that come out in the spring will represent increased competition.
With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for homes right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition amongst buyers.
If you’re thinking of selling, it may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.