Thinking about selling but unsure if it’s the right move in today’s market? Maybe you’re questioning if now’s the time or worried about finding a home you’ll love. Here’s how to address these concerns and make a confident decision.
Is It Even a Good Idea To Move Right Now?
If you already own a home, you might hesitate to sell because of higher mortgage rates on your next purchase. But your home equity could make your move much easier than you think.Equity is the difference between your home’s market value and what you owe, and recent price growth has likely boosted yours significantly. According to Dr. Selma Hepp, Chief Economist at CoreLogic:
“Homeowners now average about $315,000 in equity, nearly $129,000 more than before the pandemic.”This equity can be a game-changer. It could allow you to put a larger down payment on your next home, finance less at today’s rates, or even buy your next home outright. Bottom line? Your equity might be the key to your next move!
Will I Be Able To Find a Home I Like?
If you’re thinking about this, it’s likely because you remember how scarce homes for sale were in recent years—it felt nearly impossible to find one! Now, the market has shifted, and finding a home is easier with more options available. In fact, Realtor.com reports inventory is up nearly 30% year-over-year (see graph below):
Inventory is still below pre-pandemic levels, but it’s the highest it’s been in a while—giving you more options while still needing your home to shine for buyers. Keep in mind, local markets differ, so partnering with a real estate agent is key to understanding inventory trends in your area.
