It is a known fact that a large number of homes hit the market during the Spring season. Sellers often question rather they should wait until Spring or hit the market now.
As the owner of Raleigh Cary Realty, this is one of the most common questions that I get. And the simple answer…List the home NOW if you are ready!!
3 reasons why a homeowner should not wait until spring when the winter months in the Wake County offer so many positives for real estate are:
- Less Inventory: The reality is that fewer homes will be on the market in the winter months. It is simply the concept of supply and demand. If there are fewer homes for buyers to choose from, sellers are more likely to get an offer on their listing. The lack of inventory often helps to drive the offer prices upward as well. Less activity also means that fewer sellers are searching for their second home; therefore, competition will be lessened when making a future purchase.
- Serious Buyers: Most people who are looking for homes in the winter months are serious buyers. January through March tend to have a high volume of relocations. Wake County has continuously maintained high relocation numbers. Individuals that are searching for homes in these months have a “need” to move and are less likely to be “just looking”.
- Interest Rates on The Rise: Over the past few years we have seen interest rates in the 3 to 4% range. Most real estate industry groups are predicting rates of 5% plus by the 3rd quarter of 2019. A rate increase can often be a shock to homebuyers and may make them reluctant to purchase. Buyers will often hold out for rates to decrease again. With the chance of the rate increase in the Spring, now is the time to list.
Selling a home can be an enjoyable process during any time of the year if you have the right team working for you. If you have a home to sell in the Wake County area, Raleigh Cary Realty would love to assist you.