It's A Great Time To Sell Your Sacramento Area Home
by Rick Delgado
on Thursday, February 4th, 2016 at 10:21am.
If you're thinking of selling your home in Sacramento, now is a perfect time to put it on the market.
A recent report from realtor.com shows the Sacramento real estate market as being the sixth hottest in the entire United States for this past January.
According to the report, overall inventory is down, making it a very good market for sellers.
The real estate market generally heats up in spring, during the months of March, April, and into May, so why not put your home on the market now and avoid all the competition coming up in a couple of months?
By selling now, your are also more likely to be able to list your home for a higher price, given there are plenty of buyers in the Sacramento area and less competition in terms of homes for sale.
The realtor.com report analysis shows listings in the hottest markets are viewed two to five times more often than the national average, and houses sell 30 to 50 days more quickly than the rest of the United States. They have also seen days on market drop by a combined average of 7% year over year.
Also too, it you're thinking about moving up into a larger, nicer home, now is definitely the time to do it.
Home prices are projected to rise by 5.4% over the next year according to CoreLogic. If you are moving up to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you hold off.
You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to rise by three-quarters of a percent by the end of 2016 to where they'll be more than 4%.