Market Recovery Makes Now a Great Time to Sell
The real estate industry took a significant hit during the recent recession. But in the past couple of years, real estate professionals have started to see it pick back up, so much so that the market has begun to shift to benefit home sellers.
But what does it mean to be a seller’s market? Right now in the Birmingham metro area, Vestavia, and Homewood there are more buyers than sellers. The effect is driving sale prices up.
Not only are there more buyers than sellers, inventory and interest rates are at all-time lows as well. All factors indicate that the low interest rates won’t last forever — in fact, they’re expected to rise within the year. That makes now a great time to get your house on the market and take advantage of the rates.
Some people may still be wondering if now’s really a better time to sell than three or four years ago. From a Realtor’s perspective, I’d say absolutely.
If your listing expired, now might be the time to try again. You might even be able to sell at a higher price than you expect. For those people holding on because their homes have lost so much equity they couldn’t afford to buy again, it’s a great time to reevaluate and consider putting that house on the market.
Whether you’re buying or selling, the best first step is to call a Realtor. They can discuss the market with you to explore if now really is a good time for you to sell, and they’ll connect you with a great mortgage broker who can be trusted to get you pre-qualified for your next purchase.
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Michael Murphree has been a REALTOR® since 2005 and is very well versed in all regions of the Birmingham metro area. He grew up in Forest Park and now lives in Vestavia.
