If you’re looking at your local real estate market and wondering if there’s a window of opportunity closing, you’re certainly not alone. Let’s do our best to examine what’s going on in the real estate industry and cover 3 reasons to list your house now in Phoenix instead of waiting until spring.
First and foremost, real estate markets across the country have become less predictable and stable over the last year or so.
During the height of the Covid-19 pandemic, we saw a complete and total lack of available home inventory cause property market values to skyrocket. Since hitting that launch point, prices have wavered here and there but have generally stayed above average.
As the worries and uncertainty of the global pandemic began to fade into the background, a lot of homeowners were able to take advantage of historically low interest rates to refinance and put themselves in a better financial position for the foreseeable future. However, interest rates have jumped up multiple times over the past year or so, and this has reduced the number of owners with a reason to stay put in their current homes.
Choosing to list your house now means beating other owners looking to sell in the near future to the punch and leveraging those inflated home values for your personal gain.
Sustained Buyer Demand
Something that has not changed one bit since those previously discussed home values went through the roof is the high pool of buyers duking it out to purchase their next home.
The surge of buyer demand began when the pandemic reduced available home inventory to near nothing, but demand has been buoyed by three particular things: inflation, rising rents, and the growing fear of missing out. It’s no secret that the cost of living has been ramping up quickly and increased rents have sent some buyers into panic mode.
Where you used to see a few buyers ready to get into a drawn-out bidding war over a home, you can now find buyers swarming any for-sale property with the intent of tenaciously pursuing it.
It’s becoming more common for the average buyer to be a renter that is being squeezed by their landlord. They are finally having to deal with the potential reality that paying a mortgage and maintaining a home could actually be cheaper than simply continuing to extend their lease.
The Clock Is Ticking
What is possibly the biggest reason to get on with choosing to list your house now is that these market conditions could begin to shift rapidly with very little notice.
Getting in on an undeniable seller’s market now is the best way to cash in on the money, time, and effort you have put into maintaining your home over the years. With the colder months approaching, we can expect the real estate market to slow down as it does traditionally, so striking while the iron is hot is essential.
There are already some indications of property values beginning to level out, so waiting until warmer weather shows up in spring could very well mean leaving money on the table.
Sell Your Home With the Professional’s Touch
If you’re on the fence about selling your home, we wholeheartedly recommend reaching out to the qualified and experienced real estate professionals in Phoenix to meet and discuss your situation.
Bringing onboard the years of expertise in sales, marketing, and negotiation gives you the edge you need to sell your house for as much as possible as quickly as possible. Shopping around for the agent that you feel most comfortable with representing you and your property is the first step toward closing and making your home’s sale a major success.