There are still a few months left for you to sell your home in 2019, and while the market may not be as hot as it was a couple years ago, this can be a good thing for those looking to sell!
With many uncertain about what the coming years hold, 2019 is still a solid time for you to enter the market. Wondering why? We’ve got you covered.
An Impending Recession
The numbers are clear—Fortune.com says that 60% of economists believe that a recession is imminent in 2020. With experts concerned about the future of the economy, you can expect a profound impact on the real estate market.
If you remember 2008, you’ll also remember how the housing market suffered. However, 2019’s market is still solid and lacks the potential uncertainty of the coming years. Selling now offers you a distinct advantage, and you won’t have to combat any kind of economic instability.
The Seller’s Market is Dying Down
2019 may be your last chance for a while to score in a seller’s market. The real estate market naturally ebbs and flows, and according to a report by Realtor.com, it’s beginning to transition into a buyer’s market.
What does this mean? Fewer bidding wars, a bigger inventory, and less of an advantage for sellers. By listing your home before the transition into a buyer’s market, you’ll likely get a better price and sell it quickly.
Interest Rates Will Rise
This year has been an interesting one for mortgage rates. According to US News, mortgage rates are fluctuating, but if there’s one thing that’s clear, it’s that there won’t be a huge spike in rates for the remainder of 2019.
Because of these conditions, buyers will be more inclined to stay in the market and search for homes. However, mortgage rates are expected to climb after 2019, meaning that buyers may not be as keen on snagging up houses.
Millennials Entering the Market
Millennials, one of the largest generations, are starting to buy their first homes. Per Realtor.com, many people buy their first home at thirty years old, and many millennials are finally reaching a point where they feel ready and financially secure enough to make their first big purchase.
As millennials purchase their first homes, it can be a perfect time for sellers to take advantage of this large influx of potential buyers.
Sell Your Home for Top Dollar
Ready to take the next step towards selling your home in 2019? Selling now could be one of the best decisions you ever make, and the Dennis Kotaska team is here to help. Explore our selling resources, find the right price for your home, and list your property today.
Give us a call and let’s chat—when it comes to selling your Sarasota area home, we’re the experts you can trust.