Are You Asking Yourself These Questions About Selling Your House?

Are You Asking Yourself These Questions About Selling Your House?

Many homeowners hesitate to sell due to uncertainties that often stem from misconceptions rather than facts. Engaging with a real estate agent can clarify these doubts and reveal that they are not the obstacles you might fear.

If uncertainty is preventing you from selling your home, it's crucial to seek out accurate information—the answers you deserve. To ease the process, you don't even need to pose the questions yourself; here's the data that addresses common concerns.

1. Is It Even a Good Idea To Move Right Now? 

If you already own a home, you might be hesitant to sell because you're concerned about taking on a higher mortgage rate for your next property. However, your move might be more achievable than you think, especially given the significant increase in home values.

Consider this: Have any of your neighbors recently sold their homes? If so, you might be surprised by the selling price, given the sharp rise in home values over the past few years. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), notes that the typical homeowner has gained $147,000 in housing wealth in just the last five years.

This substantial increase in equity can provide the financial support you need to make your next move feasible when you decide to sell.

2. Will I Be Able To Find a Home I Like? 

If you're hesitant about selling because of past difficulties in finding a home, you should know that today's market conditions are less challenging.

Recent data from Realtor.com indicates a significant increase in housing inventory, which has risen nearly 25% compared to the same time last year (refer to the graph below):

While housing inventory remains below the more typical levels seen before the pandemic, it has significantly improved over the past year. Additionally, experts predict that it will increase by another 10 to 15% this year. This improvement means you now have more options for your move and the best opportunity in years to find a home that truly fits your needs and preferences.

3. Are Buyers Still Buying?

If you're concerned that current mortgage rates and home prices might deter buyers, consider this perspective: Despite a slowdown, about 4.24 million homes were still sold last year, excluding new constructions, according to the National Association of Realtors (NAR). Furthermore, it's anticipated that the number of home sales will increase in 2025. Even if sales only match last year's numbers, this still represents a substantial volume of transactions in the housing market.

• 4.24 million homes ÷ 365 days in a year = 11,616 homes sell each day
• 11,616 homes ÷ 24 hours in a day = 484 homes sell per hour
• 484 homes ÷ 60 minutes = 8 homes sell every minute

Think about that. Just in the time it took you to read this, 8 homes sold. Let this reassure you – the market isn’t at a standstill. Every day, thousands of people buy, and they're looking for homes like yours.

Bottom Line

When you're ready to discuss any concerns or questions you have, I'm here to provide the answers you need. In the meantime, I'd like to understand better: what's holding you back from making your move? Let's address your hesitations so we can help you move forward confidently.