4 Reasons Why You Shouldn’t Wait Until Spring to Sell Your House
It’s often said that spring and summer are the best times to buy or sell a house. For this reason, you might hold off listing your home until this time of the year. But there are no hard or fast rules regarding when to put a home on the market. So if you are ready to make a move this winter, there’s no reason why you shouldn’t proceed.
Here are four reasons why the spring and summer aren’t always the best times to sell a home
1. Fewer homes for sale in the winter equals less competition
Spring and summer are prime seasons for buying or selling and many homeowners wait until this time to list their homes for sale. Postponing the sale of your home until spring could result in greater competition due to a larger pool of available properties. If so, your house might get lost in the shuffle and sit on the market for longer than anticipated. But if you were to list your home during the winter, less competition will make it easier for buyers to notice your property.
2. Greater number of serious buyers in the winter
Because many people enjoy being outdoors when the weather is warm and sunny, hosting an open house during the spring and summer will likely result in a lot of traffic. The problem, however, is that many of these people might be curious browsers instead of serious buyers.
If you listed your house during the winter and hosted an open house on a cold or chilly day, most people aren’t going to venture out unless they’re serious about buying a home. So while your property might receive less foot traffic in the winter compared to the spring, you’re also less likely to deal with window shoppers. Those who visit the property are looking to make an offer.
3. Interest rates can shift upwards
Although spring and summer might only be a few months or weeks away, mortgage interest rates can shift upwards between now and then. When mortgage rates increase, purchasing power decreases. If you postpone listing your home and rates begin to rise, this may limit the number of buyers who can qualify for a loan to purchase your home.
4. Your real estate agent can give you more time and attention
Another benefit is that your real estate agent might have fewer clients during the winter compared to warmer months. If so, they can devote more time and attention to selling your property and helping you find your next place.
It’s ultimately your decision whether to sell in the winter or wait until the spring or summer. But if you’re eager to sell your home and purchase a new place before the real estate market picks up, now’s the time to list.
Once you’re ready to shop for a home loan, make an appointment with one of our loan experts at Cherry Creek Mortgage. We offer a variety of loan options for just about everyone and we’re happy to help you finance your next big investment.