Housing Market News: 4 Key Reasons You Should Sell Your Home in 2020
There are over 121 million occupied housing units in the United States. But are you ready to move out of yours? Making the decision to sell your home isn’t an easy one.
The real estate market is always unclear and a lot goes into a home sale.
However, this will change in 2020. Sellers will dominate the market, being able to sell their home for a top price with interested buyers. There’s more technology to make the buying and selling process easier.
Are you looking for housing market news? Here are 4 reasons to sell your home this year.
1. Low-Interest Rates
Interest rates are expected to be low in 2020, at around the 4% mark. While interest rates generally fluctuate throughout the year, the rates aren’t expected to increase drastically.
This will help new buyers afford to finance, especially millennial homebuyers and buyers with bad credit scores. Buyers will crowd the market and sellers will sell their homes quickly and easily.
Keep in mind, interest rates still depend on the buyer, their finances, and their credit score.
2. New Buyers Are Entering the Market
Boomers are retiring and Gen X is settled into their homes. What does this mean? First-time millennial home buyers are flooding the market.
If your home is low- to mid-priced, you’re in luck. Millennials are smart — they will buy the home they can afford and will do plenty of research before signing any papers. This is why millennials will choose an entry-level home.
New millennial homebuyers are less interested in high-priced and luxury real estate. If this is the type of home you’re selling, try attracting another group of buyers.
Keep in mind, millennials are tech-savvy. Modernize your listing by utilizing real estate website listings, using photography and videography, and optimizing your descriptions for SEO.
3. 2021 Is Unpredictable
We’re entering a new decade and no one knows what the future holds.
But experts are predicting another economic recession in 2021, making the housing market unpredictable.
While the housing market isn’t expected to take the huge toll it did from 2007 to 2009, you may be wondering, should I sell my house fast?
Homeowners have two options: wait and sell your home until after the recession or sell your home in 2020.
4. High Equity
Have you lived in the same home for years? Your property value likely increased and you build up decent equity. The more equity you have, the bigger the profit you’ll make.
If this sounds like you, you’re in a good place to sell now.
Are you selling your home to upgrade? High equity makes you desirable for both mortgage lenders and other sellers.
Trust Us With Your Arizona Housing Market News
Are you unsure if you should sell your home this year? The 2020 housing market news states this is a great year for home sellers. List your home for sale this year!
Do you need more home selling resources? If you’re in Arizona, we offer real estate listings as well as a comprehensive blog. Continue looking around our website.