Last year brought a great up rise in demand and pricing for houses, and we are expecting the same for all of 2021, and if there is ever a time to sell your house, it's now! With people eager to buy and there being a lower supply in houses, this means
that the price of houses are rising, so sellers will benefit greatly.
Interest rates in 2021 are expected to stay low, as of December 10th, 2020, the average interest rate was 2.71% for a 30-year, fixed rate. It is expected for them to rise to 3.4% by the end of the year, though still considered low if compared to the history
of interest rates.
With the high demand and low inventory of houses, expect multiple housing offers from eager home buyers, especially first-time home buyers. This will benefit you greatly in order to sell for the greatest priced offer. Houses will also sell quickly due
to the circumstances, which can be an extreme relief if you are forced to sell your property.
Though the benefits of selling your house now sounds absolutely amazing, there can be some barriers in the way.
Some families may have just refinanced your home, there's no reason to sell your home in the immediate future, though hopefully this has solved any financial worries and lowered your monthly payment. Refinancing is an alternative to selling your home,
and is great if you were looking and just don't see any house that interests you.
As stated before, the prices are rising which is great for sellers, though can be a burden for buyers. There can be some set backs that occur that can be the reason for selling and the reason for having a difficult time affording your next purchase. Talking
to your lender about any financial issues is an option because you may be able to defer some payments or can temporarily lower the payments.
And like usual, finding a new home can be worrisome. Trying to find a new home that you like better than the one you are selling can be difficult. Expand your search to include new construction homes, this also will help ease the high demand in the coming
year because home buyers are looking for move in ready homes.
Though waiting for a more balanced market may be a good idea for some homeowners, it may not get you the best price for you house. The high demand for move in ready homes and the low inventory of those homes for sale means that you will be getting the
best price on your home, which can easily be more than you ever expected! Selling while the market is like this is probably the best thing you can do!