Are you debating whether it’s the right time to sell your home? Maybe you’re unsure if moving makes sense in today’s market, or you’re worried about finding your dream home. It’s normal to have questions, but don’t let uncertainty hold you back from making your next move. Let’s tackle two of the most common concerns head-on to give you clarity and confidence.
Is It a Good Time To Sell Your Home?
If you’re a homeowner, you might be hesitant to sell because of rising mortgage rates. Taking on a higher rate for your next home might seem daunting, but here’s the good news: your home equity could make all the difference.
Equity is the difference between your home’s current market value and what you still owe on your mortgage. Thanks to significant home price appreciation over the past few years, your equity has likely grown more than you realize.
As Dr. Selma Hepp, Chief Economist at CoreLogic, explains:
“Persistent home price growth has continued to fuel home equity gains for existing homeowners who now average about $315,000 in equity and almost $129,000 more than at the onset of the pandemic.”
What does this mean for you? If you’ve built substantial equity, you can use it to make a larger down payment on your next home, potentially lowering your monthly payments. In some cases, your equity might even allow you to buy your next property outright, bypassing today’s mortgage rates altogether.
Your equity is a powerful tool that could make your next move more attainable than you think.
Will I Be Able To Find a Home I Love?
It’s no secret that the past few years made home shopping feel like a treasure hunt, with limited inventory and fierce competition. But today’s market is different.
The number of homes for sale has increased, giving you more options to explore. In fact, Realtor.com data shows housing inventory has grown nearly 30% year-over-year. While inventory hasn’t yet reached pre-pandemic levels, it’s at its highest point in years.
This means two great things for you:
- You’ll have more options to find a home that meets your needs.
- Your current home can still shine in a market where buyers are actively looking.
Keep in mind that inventory levels vary by location. Some markets may have more homes available than others, so connecting with a local real estate expert is the best way to understand what’s happening in your area.
Take the Next Step with Confidence
Selling your home doesn’t have to be overwhelming. By understanding how your equity can empower you and recognizing today’s growing inventory, you’ll be in a strong position to make your move.
Let’s connect so you can get the local market insights and expert guidance you need to take the next step confidently. Don’t let the “what-ifs” hold you back—your dream home might be closer than you think.
