Thinking of selling your home this year? This might be the perfect chance to list your property.
Three Reasons Why
- Supply is still lacking. Two major trends that we noticed in 2021 were a low supply of homes for sale and supply chain issues. Experts predict that both of these trends will continue in 2022, which is good news for home sellers. Lower supply means a higher sales price.
- Prices are still rising. After another strong year of appreciation, 2022 may see a slight slowdown. Homes will still increase in value, but the rate at which they are appreciating is expected to pull back based on predictions from Fannie Mae and the National Association of Realtors.
- Rates are still low … for now. Right now, the average interest rate on a 30-year fixed rate mortgage is in the low 3% range. However, the Federal Reserve recently announced that it will win down its bond purchases, which will cause rates to increase across the board. This may cause even more buyers to enter the market now to try and secure a home before higher rates make it less affordable.
Home price growth is slowing compared to what we’ve seen over the last few years, and home prices might eventually start to decrease. Mortgage rates are on their way up. When that happens, we will enter a market where buyers, not sellers, have the final say.
If you’re looking to sell, it means the time to act is now. In Kitsap County and Ocean Shores there’s plenty of demand for homes.
If you decide to sell your home now, you might benefit from the current high prices and low inventory. In other words, you could sell quickly and for top dollar.
If this piques your interest, you can get more information by simply calling Penny at (206) 618-5123 or email Penny@TheOriginalPenny.com.
Serving: Bainbridge Island, Poulsbo, Silverdale, Kingston, Bremerton, Port Orchard, Port Ludlow and Ocean Shores.