With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a homeÂ before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying:
â€œHousing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.â€
â€œFrom one year ago, the inventory of unsold homes decreased 13%. . . .â€
With buyers eager to purchase but so few homes available, sellers who list their houses this fall have a tremendous advantage â€“ also known as leverage â€“ when negotiating with buyers. Thatâ€™s because, in todayâ€™s market, buyers want three things:
These three buyer needs give homeowners a leg up when selling their house. You might already realize this leverage enables you to sell at a good price, but it also means you can negotiate the best terms to suit your needs.
And since buyer demand is still high, thereâ€™s a good chance youâ€™ll get offers from multiple buyers who are willing to compete for your house. When you do, look closely at the terms of each offer to find out which one has the best perks for you.
If you have questions about whatâ€™s best for your situation, your trusted real estate advisor can help. They have the expertise and are skilled negotiators in all stages of the sales process.
Todayâ€™s buyers are motivated to purchase a home this year, and thatâ€™s great news if youâ€™re thinking of selling. Letâ€™s connect today to discuss how much leverage you have as a seller in todayâ€™s market.