2018 Real Estate Trends that Could Impact Your Sale or Purchase

2018 Real Estate Trends that Could Impact Your Sale or Purchase

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real estate trendsAs the year draws to a close and the prospect of turning a new leaf looms in the air, you may find yourself in the position of making the decision to sell your home. Where do you even begin? What considerations need to be made to ensure a smooth listing and transaction? It turns out that reflecting on the “Homes of Sales Past” can give you the direction you need to make sure yours is a home sold in the near future.

Best Season to Sell

Many people decide to wait until after the Holiday Hubbub to buy or sell a home, and rightfully so. Not only are many buyers preoccupied with holiday events and shopping, but the thought of needing to interrupt an already busy schedule with open houses, last minute walk-throughs, and keeping the home “show-ready” at all times can be daunting. Spring is by far the best season for home sales, when most families are expected to utilize tax returns for down payments and when they still have enough time to relocate and settle before the new school year in the fall.

Interest Rates

Since the end of 2016, interest rates have seen a gradual increase, and the same is expected to continue through the new year. January 2017 saw the average APR climb from 3.5% to 4.2%, and some estimates place interest rates nearing 5.5% by the end of 2018. While the increases indicate a steadily growing economy, it does matter when it comes time to sell your home, as higher rates will change a buyer’s monthly payment, and thus the home price they are able and willing to afford. Selling sooner than later might help your list price appeal to more buyers.

Sellers’ Supply

According to the National Association of Realtors, the fourth quarter of 2017 began after 4 out of 5 straight months of a decline in existing home sales, but not for the reason you might think. Home sales are currently down because strained supply levels are subduing activity all around. This means that if you’re in the position to sell, you’ll have far more buyers than usual clamoring for your property, and higher demand means higher prices. However, if you’re in the position of needing to buy, expect to have to bid above asking in most circumstances for a chance at closing the deal.

Looking to the Future Sale of your Home?

No matter your reason for deciding to sell, Win Win Fast Property Solutions has the expertise and integrity to provide you with a seamless transaction that focuses on helping you realize your real estate goals. Contact us today to learn more about getting a fair and honest offer for your property!

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