Homeowners: Now Is A Good Time To Sell Your House

Homeowners: Now Is A Good Time To Sell Your House

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

Every month, the National Association of Realtors (NAR) releases their Seller Traffic Index as a part of their Realtors Confidence Index. In the latest release, NAR reported that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the country, which came in with a weak rating.

As we can see in the following table, the number of people who moved last year is half of what the rate was in the 1980s.

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

This does not come as a surprise, as tenure length (the number of years someone owns a home before moving again) among existing homeowners has increased. It has risen from an average of 6 years from 1985 to 2008, up to 9.5 years over the last few years. This is shown in the graph below:

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

As we can see, there is a pent-up seller demand!

What led to this change in behavior? Falling prices during the housing crisis led to many homeowners having negative equity in their home, meaning they owed more on their mortgage than the home was worth. Others were able to secure a low interest rate on their mortgage and have not been quick to obtain a new mortgage with a higher rate.

Will this trend continue?

Recently NAR reported that “69% of people believe now is a good time to sell a home.”

With a strong economy, low interest rates, and wages continuing to rise, some homeowners will be ready to put their house on the market and move up to the home of their dreams!

Bottom Line

There is a great opportunity for sellers to take advantage of the current real estate market before new inventory comes to market. If you are considering selling your house or would like to know your options, let’s get together today to help you understand the possibilities available to you!

Owning vs. Renting

Melissa PhotoOne of the most common and significant necessities that life offers is owning your own home.  There is always a sense of security, satisfaction, contentment and fulfilment attached to owning a house.  There is nothing sweeter in life than buying and owning your own property.

Reasons to buy instead of rent:

  1. The Mortgage Rate is Low – Currently the mortgage rates are still relatively low, and it is likely that the mortgage payment you would have if you bought a home today would be lower than the price you’d pay to rent.
  2. You build Equity – Equity is the amount of money you can sell your home for, minus the money you still owe on it.
  3. Stability – There is always a pleasant feeling attached when you have your own house.  This feeling brings a sense of freedom, independence and stability.

These are just a few reasons why it may be good idea for you to buy instead of rent your home.  But, there are many more reasons, contact me today and I’d be happy to share with you some additional benefits you may enjoy by buying your home.  I’ve also written a book, Complete Guide to Buying A Home. that I would be happy to share with you.  Feel free to send me an e-mail, or contact my office for additional information.

Melissa Percle – Associate Broker, CRS,GRI

Webb Jay & Associates, LLC/REALTORS

124 Longview Drive, Ste 2, Destrehan, LA 70047 – 985-317-3370

Licensed by the Louisiana Real Estate Commission.

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