Few people are predicting that 2019 will be a record-breaking year for home prices.
But if you're weighing your options to sell, considering selling this year or
maybe the year after, don't play the waiting game.
Here are four reasons to sell your house in 2019.
New buyers are still entering the market.
As interest rates rise, some buyers will hesitate to make an offer on a home or
apply for a mortgage, so be ready to see occasional drops in buyer activity.
The bottom line: While houses may sit on the market for a few more days on average
compared with 2017 when the market was white-hot, buyers remain active and
it's still possible to profit from your home sale.
Interest rates are still low-ish.
While rates are at their highest level since February 2011, they remain much lower
than the historic high of more than 18 percent in 1981. If you're looking to get the lowest interest rate possible on your next house, try to make a deal sooner rather than later.
You have high equity.
Homeowners who bought during the recession or shortly after benefitted from
historically low interest rates and, up until around 2015, lower home prices that were
still in recovery mode. The higher your equity in your home, the more you net from
the sale, which can easily go toward the down payment on your next house.
Selling in 2019 vs. 2020.
If not selling your home in 2019 means putting your house on the market in 2020,
the sooner option is the best one. Whether you believe the recession is imminent or
a long way off, current real estate patterns indicate a sudden upswing
in activity or prices is unlikely in the near future.
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