According to Keeping Current Matters, if you’re weighing the decision to sell your home, you might have lingering questions: Is moving the right choice in today’s market? Or perhaps you’re worried about finding a new home that fits your needs. These concerns are common, but there’s good news—solutions exist to address both.
Is Moving a Smart Choice Right Now?
While higher mortgage rates might make homeowners hesitant, increased equity can help make selling more feasible. Thanks to rising home values, many have gained substantial equity. As Dr. Selma Hepp, Chief Economist at CoreLogic, explains:
“Persistent home price growth has continued to fuel home equity gains for existing homeowners who now average about $315,000 in equity and almost $129,000 more than at the onset of the pandemic.”
Your equity can be a game-changer, helping you make a larger down payment, reduce financing, or, in some cases, buy your next home in cash—making your move possible.
Will You Find a Home You Love?
If recent low housing inventory had you concerned, the market has shifted. Inventory is on the rise, with Realtor.com reporting a nearly 30% year-over-year increase in homes for sale. While still below pre-pandemic levels, it’s the highest it’s been in quite a while (see graph below):
It’s important to note that inventory trends can vary by location. Some areas may have more homes for sale than others, so working with a local real estate agent is key to understanding market trends and finding the best opportunities in your area.
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Source: keepingcurrentmatters.com
