Top 6 reasons homeowners are selling now!
In todays real estate market as an homeowner you can feel a lot like... - Michelle [ whipping my butt in yahtzee - taking on the market and the opportunities ] - like me [ pure defeat, about to throw in the towel in panic ]
See, some homeowners who may be reluctant to sell their houses because they don’t want to lose the historically low mortgage rate they have on their current home. You may even have the same hesitation if you’re thinking about selling your house.👀 [ we get it, you see me down there? ]
Data shows 51% of homeowners have a mortgage rate under 4% as of April this year now, while it’s true mortgage rates are higher than that right now, there are other non-financial factors to consider when it comes to making a move.
In other words, your mortgage rate is important, but you may have other things going on in your life that make a move essential, regardless of where rates are today. So, if you’re thinking about selling your house, it may help to explore the other reasons homeowners are choosing to make a move today.
The 2022 Summer Sellers Survey by realtor.com asked recent home sellers why they decided to sell. The visual below breaks down how those homeowners responded.
As the visual shows, an appetite for different features or the fact that their current home could no longer meet their needs topped the list for recent sellers. Additionally, remote work and whether or not they need a home office or are tied to a specific physical office location also factored in, as did the desire to live close to their loved ones.
The realtor.com survey summarizes the findings like this: “The primary reason homeowners decided to sell in the last year was the realization that, after so much time spent at home, they wanted different features and amenities, such as walkability, outdoor space, pool, etc. . . . ” If you, like the homeowners they surveyed, find yourself wanting features, space, or amenities your current home just can’t provide, it may be time to consider listing your house for sale.
The best way to find out what’s right for you is to partner with a trusted real estate professional who can provide expert guidance and advice throughout the process. They [meaning our team ! ] can help walk you through your options, so you can make a confident decision based on what matters most to you and your loved ones.
However, Bottom Line✨ While the financial reasons for moving are important, there’s often far more to consider. Non-financial reasons can also be a significant motivating factor. If you need help weighing the pros and cons of selling your house, let’s connect today.