Is now a great time to sell your house? All the signs appear to say yes, and many real estate experts, professionals, and investors agree. Conditions are relatively favorable for selling your home, especially for cash. Below we will briefly discuss the reasons why now is an excellent time to sell a home in Colorado Springs.
1. Interest Rates are Very Low
The truth that home loan interest rates are still exceptionally low, actually the lowest they have ever been and are anticipated to stay that way for the rest of the year. Low-interest rates are an incentive for on-the-fence buyers to go ahead and buy while the rates are low because it’s cheaper to borrow money right now.
2. New Buyers Entering Market
On a similar note and in part for a reason stated above, new buyers and investors continue to enter into the marketplace.
These buyers are not targeting higher-end homes and are more interested in mid-level and entry-level homes.
The majority of the brand-new buyers are and will be millennials, who are mostly first-time homebuyers.
Younger Generations Z purchasers are now also beginning to enter the market.
3. Inventory Still Low.
Before the Coronavirus Pandemic, most were unaware that there was a housing crisis across the US, which has only gotten worse since the pandemic began. As such, when home stock is tight and demand is high, that’s the best ingredients for a bidding war, which greatly benefits sellers. The low stock also typically suggests a couple of money purchasers rather on the prowl.
Bear in mind, however, that this low-inventory circumstance is expected to improve late in the year. This suggests, obviously, that now is the time to sell.
4. 2021 is Not Predictable.
Contrary to what financial experts and many economists would like you to think, no one, not even them, can predict what the future holds. Real estate market conditions are fairly good for sellers right now. However, that could alter quickly– even more, reason now is a good time to sell your Colorado Springs Home for cash.
If you’re interested in taking advantage of the current market conditions in Colorado Springs and sell your house for cash, Sell My House to Smith can help you. Discover more by checking out our FAQs, reviews, and connect with us online or Call Us Today at 719-629-7740.