Why Homeowners Are Selling Today

Why homeowners are selling today:  as often as not the top reasons homeowners are selling today include a desire or need for features, more space, location, or amenities their current homes just can’t provide. These homeowners are willing to forgo a low interest rate on their current homes to get more of the lifestyle they want. Find out why it makes sense to sell your home this year.



Thinking About Selling Your Home?
There are homeowners, today, 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.


Data shows 51% of homeowners have a mortgage rate under 4% as of April this year. And 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, it’s not just about the interest rate when deciding to sell a home.


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.


As the chart below 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.


Why Homeowners Choose To Sell Their Homes


If you are wanting features, more space, amenities or location your current home just can’t provide, it may be time to consider listing your house for sale, despite the higher interest rates of today. If you’re lifestyle needs are motivating you to think about selling your home, feel free to reach out to discuss market conditions, how much equity you might have in your current home, preparing your home for sale, etc.




3 Reasons It Makes Sense To Sell Your Home This Year


There’s no denying the housing market is undergoing a shift this year, as buyer demand slows and the number of homes for sale grows. But if you’re seriously considering selling your home, that shift will provide some unique benefits when you sell.


Benefit #1: You Have More Options for Your Move

One of the biggest stories today is the growing supply of homes for sale. Housing inventory has been increasing since the start of the year, primarily because higher mortgage rates helped cool off the peak frenzy of buyer demand.


If you’re selling your house to make a move, it means you’ll have more options for your own home search. That gives you an even better chance to find a home that checks all of your boxes. So, if you’ve been putting off selling because you’re worried about being able to find somewhere to go, know your options have improved.


Benefit #2: The Number of Homes on the Market Is Still Low

<span style=It’s still a home seller’s market even though inventory is growing. While data shows the number of homes for sale has increased this year, housing supply is still firmly in sellers’ market territory. To be in a balanced market where there are enough homes available to meet the pace of buyer demand, there would need to be a six months’ supply of homes. According to the latest report from the National Association of Realtors (NAR), in July, there was only a 3.3 months’ supply. At the end of August, the Charlotte region had just 1.5 months supply of inventory.


While you’ll have more options for your own home search,inventory is still low, and that means your home will still be in demand if you price it rightThat’s why the most recent data from the National Association of Realtors  shows the average home sold in July still saw multiple offers and sold in as little as 14 days. In the Charlotte region, as of August 2022, homes were selling in about 19 days and home prices were still increasing.


Benefit #3: Your Equity Has Grown by Record Amounts In Recent Years

The home price appreciation the market saw over the past few years has likely given your equity (and your net worth) a considerable boost.



3 Tips For Selling Your House Right Now: Video


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Contact Nina Hollander with Coldwell Banker Realty in Greater Charlotte  if we can answer any questions you might have about the Charlotte region housing market or about what listing your home for sale might entail.