5 Reasons to Sell Your Wilmington Home This Summer

5 reasons to sell your home

Here are five reasons listing your home for sale this summer makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer
demand remains very strong throughout the vast majority of the country. These buyers are ready,
willing and able to purchase… and are in the market right now! More often than not, multiple
buyers are competing with each other to buy a home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply that is needed for a normal housing market.
This means, in the majority of the country, there are not enough homes for sale to satisfy the
number of buyers in that market. This is good news for home prices. However, additional inventory
could be coming to the market soon.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last
few years because of a negative equity situation. Homeowners are now seeing a return to positive
equity as real estate values have increased over the last two years. Many of these homes will be
coming to the market this summer.

Also, builder’s confidence in the market has hit its highest mark in over 11 years. Experts are
predicting that new construction of single-family homes will ramp up this summer.
The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes
comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae anticipates an acceleration in home sales that will surpass 2007’s pace. As the market
continues to strengthen, banks will be inundated with loan inquiries causing closing-time lines to
lengthen. Selling now will make the process quicker & simpler.

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected
to appreciate by 4.9% over the next year, according to CoreLogic. If you are moving to a higherpriced
home, it will wind up costing you more in raw dollars (both in down payment and mortgage
payment) if you wait.

You can also lock in your 30-year housing expense with an interest rate around 4% right now. Rates
are projected to increase in the next 12 months.

5. It’s Time to Move on with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting.
Is money more important than being with family? Is money more important than your health? Is
money more important than having the freedom to go on with your life the way you think you
should?

Only you know the answers to the questions above. You have the power to take control of the
situation by putting your home on the market. Perhaps the time has come for you and your family
to move on and start living the life you desire.

That is what is truly important.