See the top three reasons why 2024 is the time for Sellers to make their move!
With home price appreciation in the double digits the last two years, it is safe to assume you have equity in your home. Is it time for you to cash out?
1. Demand is High, Supply is Low.
No matter the industry, prices naturally rise when there’s more demand than supply. That’s exactly what’s happening in today’s real estate market. Buyers compete to purchase a home, leading to bidding wars that increase prices. For sellers, the rising prices mean that opportunity is knocking.
2. Your Home May Be Worth More Than You Think!
A typical year's average national home price appreciation rate is 3-4%. Today, home prices are appreciating well beyond the norm thanks to high demand. For sellers, this means that your house may be worth more than you realize with the current rise in prices.
You can use your built-up equity to power a move into your dream home or put it toward life-changing goals, but don’t wait. While price appreciation is strong now, those same experts say it’ll start to appreciate at a more normalized pace next year. If you list your house sooner rather than later, you’ll be better positioned to capitalize on the higher-than-average home price appreciation we’re seeing today.
Find out what your home is worth right now with our free home value estimate!
3. Interest Rates Are Trending Down Going Into 2024.
This chart from Google shows how interest rates are coming back down at the end of 2023. This will make homes more affordable for a larger pool of home buyers going into 2024! Many buyers who have been waiting for mortgage rates to come back down are now ready to make their offers.
Whether you are a Home Buyer or Home Seller, we encourage you to explore all your options. Our team is always here to answer any questions you may have, and help you every step of the way on your new home journey.