Have you considered the idea of selling your home recently? Are you concerned where the real estate market is heading? If either of these two ideas have crossed your thought, you should highly consider selling your home, and fast. Here’s why: one of the biggest unknowns that is concerning many is confidence in both the real estate market and the economy looming into 2020.
Experts say we are soon reaching the point of another recession. The economy will most likely not collapse like it did in 2008 because banks have tightened restrictions on loans to lenders. While the market has slowed down a bit, and housing prices have fallen throughout the end of 2018/2019, professionals are saying that selling now is better than waiting and here is why:
- Interest Rates are still somewhat low.
- New Buyers are still entering the market.
- It’s better to sell in the market you know VS the market you don’t know, especially when a recession is expected.
- If you have equity, and have the faintest interest in selling your home, you should consider selling now versus waiting for the unknown.
- If you don’t sell now, you should expect to hold onto your property for another five years if you want to see housing prices shoot back up.
- Home inventory remains low while Millennials continue to enter the market as first-time home buyers.
- According to National Association of Realtors, following Q1 of 2019, 69% of Americans believe now is a good time to sell a home VS 35% of Americans believing now is a good time to purchase a home.