Conventional wisdom has it that the winter/holiday season is not a good time to be selling a home and smart sellers wait for the spring. But does conventional hold up in this most unconventional of years?
According to realtor.com, Winter 2021 may be a prime time to sell:
- Demand remains strong: Those who were unable to buy during the spring and summer months are still looking.
- Inventory remains low: New home construction continues to lag and there are just not enough homes on the market to satisfy demand.
- Home prices may have peaked: While bidding wars continue in certain hot areas, the rapid price increases seem to be over.
- Interest rates are increasing: Analysts estimate that mortgage rates could rise to 4% by the end of 2022. Buyers want to buy now.