The housing market is shifting; supply is increasing as demand is slowing. We’re still not back to pre-pandemic levels of homes for sale, but the market is very different than it was earlier this year. Should you still try to sell your house in 2022?
We’re happy to report it’s still a good time to sell. Here’s why:
Reason 1: Your dream home may be available.
If you’ve been browsing the real estate listings and watching everything fly off the shelves the last couple years, you may have noticed that homes are staying on the market a bit longer now. Interest rates are rising, which has been cooling demand. Homes are still selling quickly, but now that the market isn’t red-hot you have a better chance of getting your dream home—existing or new. It’s good to have options when you’re searching, and options are increasing in this market.
Reason 2: It’s still a seller’s market.
Have you asked yourself, “If I sell my house will I be able to buy a new one before I have to move out.” Because despite the shift we just talked about, it’s still a seller’s market. The number of homes on the market is still low, though it is increasing. A balanced market where supply and demand are equally matched would be about 6 months of inventory (meaning how long it would take for the current homes on the market to all sell if no more houses came on the market). According to NAR’s most recently released existing home sales report, we were at 3.2 months at the end of August. This is still solidly in the seller’s market range.
Of course, when your home needs upgrades and repairs, it can be a little trickier, even in a seller’s market. Make sure to read Reason 4 for what to do in that situation.
Reason 3: You can use home price appreciation to your benefit.
With record home price appreciation over the past few years, don’t forget you can use home price appreciation to your benefit when trying to get into a new home. Danielle Hale, Chief Economist at realtor.com, explains: “Home owners trying to decide if now is the time to list their home for sale are still in a good position in many markets across the country as a decade of rising home prices gives them a substantial equity cushion…” Your current home’s appreciation can help fund your new home.
Once you’re in your new home, the benefits from appreciation don’t stop: By re-investing in your dream home, you’re setting yourself up to benefit from future appreciation. Real estate has historically been an excellent investment even in an economic downturn.
Reason 4: You can get cash to finance your dream home.
If your current home needs upgrades and repairs before it can be sold on the market, don’t worry. There’s an easier way. You can get cash for your home, as-is!
People don’t always understand that as-is truly means as-is. At MarketPro Homebuyers, we get questions like:
Can I sell my house to MarketPro if it needs a new roof? (Yes. We buy homes that need repairs, no matter the size.)
Can I sell my house to MarketPro in one week? (Absolutely. Our sales are fast and on your timeline.)
Can I sell my house to MarketPro without an inspection? (Yes! No need to go through the inspection process.)
Any scenario that you can think of is covered when you work with MarketPro.
Work with MarketPro:
We’ll give you a fast cash offer for your current home just as it is now; no repairs, no upgrades, no inspection, no commissions or fees. You can even choose your exact closing date to coordinate perfectly with the purchase of your new home. Our team will walk you through your quote, including a review of what your home would likely bring on the open market.
If you’re in Washington, D.C., Maryland, Virginia, or Pennsylvania, we’d love to show you how easy and stress-free the sales process can be. Contact us today for a same-day, no-pressure quote.