2021 is on its last legs. People are preparing for the festivities that year-ends usually bring.
Then there’s you. Of course, you want to celebrate the holidays – but there’s one thing unsettling your mind. You want to sell your house, but you’re not sure whether now is the right time. Something is telling you to wait until the new year turns.
Well, selling a house is a big decision, whether it’s mid-year or end-year, or any other time. You want to sure you’re making the right move.
If you’re asking, should I sell my house now or wait until 2022, you’ve come to the right place. Continue reading for expert insight.
How’s the Real Estate Market Looking in December 2021?
One of the biggest things to consider when selling a house is the state of the real estate market, nationally and also in your local area. This is because a real estate market can be a sellers’ market or a buyers’ market at a given time.
Ideally, you want to sell when it’s a seller’s market in your area. This means the demand for houses outstrips the supply, giving sellers the ability to dictate the prices. Homes also sell much faster in such a market.
So, how’s the market looking in December 2021?
In a nutshell, it’s a seller’s market. Housing supply was already slowing down before the COVID-19 pandemic hit, but the pandemic has accelerated the shortage. Home prices are increasing at a record pace, with 50 percent of homes fetching over the asking price in 2021.
This means right now is a good time to sell. You’re likely to sell the home faster and above the asking price.
How’s the Real Estate Market Going to Look in 2022?
Although the future remains unknown, we can use past and current trends to predict what will be happening in the real estate market.
The COVID-19 pandemic remains an evolving situation. Yes, the vaccines are here, but the virus seems to be mutating, creating new dangers of lockdowns and economic slowdowns.
The market has been red hot in 2021. Will this continue in 2022? Most experts are pointing at a decline, which means sellers will start losing their advantage. Mortgage rates are super low in 2021, but the Fed could raise rates in 2022, meaning mortgage rates will also climb, discouraging prospective buyers.
It does seem a lot like now is the best time to sell. List your house with this real estate company and find a buyer quickly.
Historically, December Isn’t the Best Time to Sell
It’s winter in December. Not many people are interested in hunting for houses in the chilling cold. Most will wait until the weather gets warmer before they can hit the market.
However, since the market is red hot, you could argue that this is a December like no other. Buyers are looking to capitalize on the low mortgage rates, so the market is as vibrant as ever.
Should I Sell My House Now or Wait Until 2022?
Are you still asking, “should I sell my house now or wait until 2022?”
We’ve given you the information you need to make a decision, but in case you’re still on the fence, it’s safe to say you put your house on the market. It’s a seller’s market. House prices are high. Buyers are biding above the asking price. What more could a seller want?
Explore our blog for more realty advice.