So you’re thinking about selling your home and you’re asking yourself if this a good time to sell.
Really?
I don’t think I can think of a better time to list a property. But don’t take my word for it. There are three things that I look at when I make this decision. Mortgage rates, price appreciation, and inventory.
Let’s look at each of these.
So mortgage rates, I know, they’re rising, but they’re rising from historic lows compared to the last 50 years. Plus, we still have
access to amazing rates. So we are seeing that it is predicted that through 2022 rates will stay at or below 4%. So it would still seem it is a great time for our buyers to buy.
Let’s look at price appreciation. We ended 2021 in December, at 18.5% increases. January, 2022, brought
us up to 19.1% increase. CoreLogic, Fannie Mae, and Freddie Mac have all predicted that we’re gonna be at between three and 9% increases, with an average of about 6.1. We are still seeing prices staying steady or increases. This is another great sign
for listing your property.
Lastly, let’s look at inventory. The real estate community looks at inventory as a gauge for whether it’s a buyer’s
market or a seller’s market. Since 2011, you can see we had a high of 9 1/2 months of inventory, with an average of about 4 1/2 months. As of December, 2020, we dropped to less than two months of inventory, and as of January, 2022, we recorded our lowest inventory ever, less than a month and a half.
So you can see mortgage rates are still great. Price appreciation is high and inventory is at its lowest ever. It truly is a seller’s market.