Spring and summer are considered the best times to sell a home. The warm weather coupled with the longer selling season and buyers entering the market at a rapid pace, make summer the ideal time to sell a home. But selling a home in the fall has its own benefits. We have listed a few of them for you.
Less Inventory: One of the best reasons for selling this fall is that there are fewer houses listed in the autumn season. So, buyers have fewer homes to choose from. According to The National Association of Realtors’ latest Existing Home Sales Report, the supply of homes for sale is still under the 6 month supply that is needed for a normal housing market. A smaller housing inventory means that the odds of a buyer wanting YOUR home increases and could even turn into a multiple offer bidding war. The inventory of available homes is very low in our area and has been for well over a year now.
Motivated Buyers: You may see fewer buyers during the fall, but this may not be a bad thing. Buyers in the fall are often different as they tend to be more motivated and serious homebuyers. People who enter the market in the fall are more likely to need a good home for their families and they are more likely to be shoppers who are willing to buy soon.
Interest Rates: The interest rates are still incredibly low & real estate sales love low-interest rates. Last fall, we saw a steep increase in rates, only to come back down earlier this year. They further dropped at the end of summer and have remained consistently attractive since then. Rates were lowered further in mid-September by the Fed as expected. They cut interest rates by a quarter-point to a target range of 3% to 4%, along with a 30-basis-point cut to the interest paid on so-called excess reserves.
Now is a great time to buy or re-finance; meaning that you can get more for your property or for your money. Contact us for a consultation.
Premier Mortgage Resources, LLC | NMLS #1169 | Equal Housing Lender
Not an offer to extend credit or commit to lend. California Licensed by the Department of Business Oversight, under the California Residential Mortgage Lending Act.