If you have been considering selling your home, it might be worth listing it before the year is up. Multiple reports and surveys have come up showing significant buyer and seller optimism for this year, with 31% of people in the market expecting 2018 to be a better year than 2017. Available housing shortages are still driving heavy competition in the market, and eager homebuyers are out there searching for any home within their budget.
Buyers are chomping at the bit after a few years of a frustrating market, where most major markets had a very low inventory. This is pushing them to start searching early and in earnest, which can present a good opportunity to sell your home quickly. That, added to the fact that interest rates are still relatively low, will bring in a lot of interested buyers and keep the market moving fast. But, there is a time limit on this, as interest rates are expected to rise again. Once the interest rates get higher, it could deter buyers, so we are suspended in a perfect limbo right now for selling a house.
Another reason to consider selling is that there have been significant home-related tax policy changes for 2018. These changes mean that if you live in an area where property taxes are high, you could take a financial hit when you file in 2019. It could be worth selling and looking into an area with lower rates, especially if you rely on the deductions you currently receive.
Selling your home quickly can take a lot of pressure off of you, and there is no time like the present to do so. If the saying is strike while the iron is hot, then the iron is smoking so far in 2018. Now is definitely the time to sell.