Contrary to conventional belief, selling your home in the fall can actually be a great idea. A lot of folks think that summer is the best time to list, but today I’d like to give you three reasons why this fall may be an even better time to sell.
1.) Housing inventory is low. Across the nation, the inventory is about half of what it was 10 years ago. This is also true here in Southern California. As a result, sellers have very little competition.
2.) Interest rates will increase. The Fed is expected to raise the interest rate once more this year, and three times more in 2018. This year, prices have risen as well. Throughout Southern California, we’ve seen them increase by about 9%. The rise in price coupled with a higher interest rate is going to make homes a lot less affordable for buyers in the future.
3.) Fall is a good time to sell. The buyers on the market right now are very serious. These buyers have probably been looking for homes throughout spring and summer. After all that time on the market, they’re still looking now because they either couldn’t find the right home previously or because they’ve been unable to get their offers accepted. Because of this, these buyers have realized they need to be much more competitive. December is actually as strong a month for volume, as are June and July. As a seller, you can know that fall buyers are very serious and very competitive.
If you have any other questions, would like more information, or want to talk to my team and I about selling your home, feel free to give me a call or send me an email. I look forward to hearing from you soon.