As you plan out your goals for the year, moving up to your
dream home may top the list. But, how do you know when to make your move? You
want to time it just right so you can get the most out of the sale of your
current house. You also want to know you’re making a good investment when you
buy your new home. What you may not realize is, that opportunity to get the
best of both worlds is already here.
You don’t want to wait until spring to spring into
action. The current market conditions make this winter an ideal time to move.
1. The Number of Homes on the Market Is Still Low
Today’s limited supply of houses for sale is putting sellers
in the driver’s seat. There are far more buyers in the market than there are
homes available, and that means buyers are eagerly waiting for your house.
Listing your house now makes it the center of attention. As a seller, that means
when it’s priced correctly, you can expect it to sell quickly and get multiple
strong offers this season. Just remember, experts project more inventory will
come to market as we move through the winter months. The realtor.com 2022
forecast says this:
“After years of declining, the inventory of homes for
sale is finally expected to rebound from all-time lows.”
Selling now may help you maximize the return on your
investment before your house has to face more competition from other sellers.
2. Your Equity Is Growing in Record Amounts
Current homeowners are sitting on record amounts of equity
thanks to today’s home price appreciation. According to the latest report from
CoreLogic, the average homeowner gained $56,700 in equity over the past 12
That much equity can open doors for you to make a move. If
you’ve been holding off on selling because you’re worried about how rising
prices will impact your own home search, rest assured your equity can help fuel
your next move. It may be just what you need to cover a large portion – if not
all – of the down payment on your next purchase.
3. While Rising, Mortgage Rates Are Still Historically
In January of last year, mortgage rates hit the lowest point
ever recorded. Today, rates are starting to rise, but that doesn’t mean you’ve
missed out on locking in a low rate. Current mortgage rates are still far below
what they’ve been in recent decades:
In the 2000s, the average mortgage rate was
In the 1990s, the average rate was 8.12%
Even with mortgage rates rising above 3%, they’re still
worth taking advantage of. You just want to do so sooner rather than later.
Experts are projecting rates will continue to rise throughout this year, and
when they do, it’ll cost you more to purchase your next home.
4. Home Prices Are Going To Keep Rising with Time
According to industry leaders, home prices will also
continue appreciating this year. While experts are forecasting more moderate
home price growth than last year, it’s important to note prices will still be
moving in an upward direction throughout 2022.
What does that mean for you? If you’re selling so you can
move into a bigger home or downsize to the home of your dreams, you want to
consider moving now before rates and prices rise further. If you’re ready, you
have an opportunity to get ahead of the curve by purchasing your next home
before rates and prices climb higher.
If you’re considering selling to move up or downsize, this
may be your moment, especially with today’s low mortgage rates and limited inventory.
Let’s connect today to get set up for homebuying success this year.
Source: Real Estate with Keeping Current Matters