Over the last year, many changes have taken place, and you may be curious about what to expect in the spring housing market. If you intend to sell your home during this time, real estate professionals advise that you consider the following points.
1. Houses That Are Priced Right Are Still Selling
According to Jeff Tucker, Senior Economist at Zillow, homes that have been modernized and priced appropriately for the current market are still being purchased.
“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”
Danielle Hale, Chief Economist at realtor.com, emphasizes that setting the correct price for your home is crucial in today’s market, as there have been significant changes over the past year.
“With a smaller pool of buyers today and more competition from other homes on the market, homesellers will likely need to adjust their price expectations in the market this spring.”
Although this year’s spring housing market differs from the previous year, sellers who have realistic expectations and seek guidance from a real estate professional to set an appropriate price for their home are still achieving favorable outcomes. This is excellent news if you are considering selling your home.
2. Buyers Are Still Out There
Although mortgage rates have increased and have been unpredictable, some prospective buyers have postponed their plans. Nevertheless, there are still numerous factors motivating people to purchase homes today. Lisa Sturtevant, Chief Economist at Bright MLS, explains the mindset of today’s buyers.
“For some buyers, higher mortgage rates simply means buying a home is out of the question unless home prices fall.
For others, higher mortgage rates will be a hurdle but ultimately will not keep them from getting back into the market after sitting on the sidelines for months.”
For this reason, if you are considering selling your house during the spring, it is advantageous to collaborate with a real estate agent who can help you connect with potential buyers who are eager to buy a property.
Bottom Line
This spring, there are still significant opportunities for homeowners looking to sell their property. If you are unsure whether it is the right time to make a move, I suggest we connect soon to discuss your options.
Find out why Kaya Homes is the leader in Long Island Real Estate and are your go-to realtor in the Lynbrook, Oceanside, Malverne, Hewlett, Valley Stream, East Rockaway, Woodmere, Cedarhurst, Baldwin, North Woodmere, Woodsburgh, Hewlett Neck Hewlett Harbor, Bellmore,Wantagh,Merrick and Freeport area. www.kayahomesny.com
Mon, 13 Mar 2023 20:40:34 +0000
by Mottek Group