The recent tumultuousness of the housing market has buyers and sellers wondering when is the right time to take the leap. Whether buying or selling, it’s no secret that the last few years have seen an incredibly volatile market. Should you sell your home in 2022? The answer is a little more complicated than a simple yes or no. Personal circumstances should be taken into account when making the decision to sell your home. If you’re thinking about selling your Glendora real estate, read on for tips on navigating the current market.
When is it a good time to sell?
Whether you’re searching through Glendora townhomes for sale in hopes of downsizing or just browsing Glendora real estate for your next family home, the time is right when you and your family are ready. While it’s important to think about your bottom line, moving is already tough enough. The market is constantly fluctuating and attempting to wait until just the right time can make things unnecessarily burdensome. If you’re ready to downsize, move cities, or simply move across town, it is the right time to sell.
When you’re downsizing or relocating
Maintaining a large home can be costly, especially as energy prices soar. If you’ve found yourself browsing Glendora townhomes for sale, it’s a great time to think smaller. Ditch the incessant cleaning, upkeep, and maintenance on your large Glendora real estate and opt for something smaller. Older homeowners may also benefit from downsizing
by opting for homes without stairs or equipped with better accessibility features.
There are a number of reasons you may be looking to sell your Glendora home. Perhaps you’ve secured a job in another town or city, and you’re looking to buy elsewhere. Now that you’ve decided to ditch the commute and live a little closer to the office.
When supply is low
Throughout 2021 and 2022, housing inventory across the United States has remained low. After nearly two years cooped up indoors, Americans are yearning for their own piece of real estate. Due to this, supply has remained low as homes are being bought up as soon as they hit the market.
When you have equity in your home
Have you built equity in your home? While paying on the principal balance, you build equity in your home. If you’ve made great strides to pay on the principal balance of your mortgage regularly, you likely have some equity, meaning that a sale will generate a profit at best or at least cover your remaining mortgage balance. If you’re looking to sell, it’s best to make sure you have some equity in your home and that a sale will either generate a profit or, at the very least, cover your mortgage and costs.
Why sell in 2022?
Buyer demand is still high
The last few years have seen an increase in buyer demand. In 2022, demand for dwindling supply is still incredibly high, and it is still a seller’s market. Now is a great time to sell your home while buyer demand is high.
The season is right
According to Reuters
, spring and summer are the best seasons to sell a home. This is typically when people have the most free time and when the energy is right for moving homes. Those with children find it easier to uproot their families when school is out of session, especially if moving homes comes with the added change of school and school district. Historically speaking, buyers are less likely to strike towards the end of the year.
Supply is low
In a seller’s market, the supply of available homes is low and demand for those homes is high. Due to the changing nature of work and life after the pandemic, many people sought to purchase a home in 2020 and 2021. During this buying frenzy, available homes were bought up quickly. Those who were traditionally required to do in-office work were given the opportunity to work from home. In many cases, those workers have yet to return to the office, and even when they do, they are not going in at the same rate. Those working from home wanted more space and comfort and opted for buying at much higher rates than ever before causing a housing supply slump.
While the supply of homes is still low, it’s a great time to list your home for sale. There are many people searching for Glendora townhomes for sale, but there is not an ample supply of homes available. This can mean that you’re more likely to get an offer on your home quickly and at a higher rate than if there were a hefty supply of homes.
Increased home values
Due to the increased demand over the last few years coupled with low supply, home prices have increased significantly. They don’t seem to be slowing anytime soon, either. If you’re wondering if now is the right time to sell your home, take a look at the value of your home or opt for an appraisal to see if your home has appreciated along with other Glendora real estate. More than likely, it has.
Currently, home values and demand for homes are high while the supply of available homes is low meaning it is a great time to list your home for sale. Whether you’re searching for townhomes for sale in hopes of downsizing or simply looking to make a profit on your Glendora real estate, now is a great time to sell your home in the area.
If you need some assistance in the selling process, the BR Co.
team has you covered. Their expertise in the area has proved invaluable to countless buyers and sellers dealing in Glendora real estate. Reach out to the BR Co.
team today and you’ll be selling your home in no time!