Why Rockland Sellers Will Want to Move Fast When Selling a House in 2018
Anyone considering selling a house in 2018 should start the process as soon as possible. It will prove to be a great time for selling a Rockland house. The housing market is currently favoring sellers, and buyers are scrambling to make purchases. The beginning of the year is going to be the best time to sell in 2018, as the market is estimated to begin changing midway through the year.
Rates Remain Low
Buyers are able to enjoy interest rates that are historically low. They may not be as low as they have been in the past, but they are much lower than the recent years have seen. Many Rockland buyers want to lock in this rate and make a purchase as soon as possible.
When a buyer is eager to make a purchase to beat the clock on rates, that makes the seller’s job even easier. Buyers will be flocking to make purchases in hot markets. Many properties are quickly flying off the market as soon as they are listed.
Throughout 2018, interest rates are expected to rise. This is pushing more buyers into trying to close on a house in early 2018 since even a slight increase in an interest rate can cost a buyer thousands. They are going to be feverish to make a purchase at the lower rate.
Inventory is Tight
Currently, there are more people looking to make a Rockland house purchase than there are people selling their homes. This is true in many areas, but people in areas with hot markets are really seeing the desperation some buyers have in finding a great house.
In the beginning of the year, it is likely this trend will not change. The inventory that is available in the housing market is expected to make a decline in the beginning of 2018, and this could push buyers into making better offers on a property that is for sale.
A pressured buyer is much more likely to make a great offer. Many buyers are offering more and accepting fewer benefits to seal the deal on a house. Some have gone as far as ignoring repair requests and even waiving their rights to an appraisal contingency.
There are even many cash buyers that are scouring the market for great investment properties. These cash offers are always ideal for a seller. It means an easier sell and typically, a much quicker sale. With so many buyers on the market, it is a great time for selling a house.
The end of the year is expected to see a rise in inventory. This is going to drop demand since there will be more houses to choose from. Buyers will be able to be pickier when selecting a house. Sell early to catch a buyer that is excited to close on a house.
Here Come the Millennials
Much of the housing market is made up of millennials that are looking to buy. Many millennials have been in situations where they have rented apartments or houses for the last few years. With the many factors that make it a good time to buy, they are diving into the housing market to make a long-term purchase.
Home Prices are Trending Up
There has been a trend in the housing market of house prices rising. This means more money in the seller’s pocket once the deal is done. The past few years have seen a huge increase in prices, but this is slowing down.
Throughout the year, the increase in prices is going to stall out. Now is the time to sell when houses are worth more. Once the prices start to stall and no longer increase, they could start to fall again.
Purchase Power is Strong
Buyers have more buying power. There has been a dramatic decrease in the unemployment rate and the stock market is doing well. This means there is more money in the pockets of buyers and more people are looking to buy a Rockland house in 2018.
Many people are moving out of hourly, inconsistent jobs into salary positions. As people find more stability in their jobs and finances, they look towards home ownership, which is a much more attainable goal with a consistent job.
The Rockland housing market is a fickle industry, often fluctuating and changing. Sellers often find themselves holding out for the best moment to list their house, finding the market at its peak to help maximize profits. The beginning of 2018 is the prime time for a seller to place their property on the market as many aspects are trending towards a big change towards the end of the year.