Don’t Wait Until Spring To Sell Your Kansas City House
As you prepare for the year ahead, is one of your main goals moving? Timing is essential, making it necessary to know when the moment is right. While spring is typically the peak Kansas City homebuying season, you don't need to wait until spring to sell! Here's why.
Take Advantage of Lower Mortgage Rates
The 30-year fixed mortgage rates peaked at 7.79% last October. Then, in January, they hit their lowest level since May, meaning you may not feel as locked into your current KC mortgage rate. This downward trend in rates has increased affordability for Kansas City buyers, even from just a few months ago.
Another reason the current Kansas City rates make now an excellent time to sell is that more buyers are jumping back into the market. Many interested buyers have been waiting on the sidelines for mortgage rates to fall. Now that rates have declined, they're eager and ready to buy. This influx creates an increased demand for your house. According to Sam Khater, Chief Economist at Freddie Mac:
"Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market."
Get Ahead of Your Competition
In the current Kansas City market, more people are looking to purchase a home than there are houses for sale. This low supply puts you in an advantageous position, but keep in mind that with the recent uptick in new listings, more sellers may already be re-entering the market.
By listing your house sooner, you can beat your competition and make sure your home will stand out. The Just Say Home real estate agents will work with you to price your home correctly, ensuring it sells quickly and gets multiple offers. U.S. News explains:
"When there is low housing inventory, sellers could get top dollar for their homes."
Make the Most of Rising KC Home Prices
Housing market experts predict home prices will keep rising throughout 2024. What does this mean for you? If you're ready to sell your current home and plan to buy another one, consider moving before prices increase further. Acting quickly in the current Kansas City market will allow you to buy your next home before it gets more expensive.
Leverage Your Equity
Kansas City homeowners today have tremendous amounts of equity. A recent report from CoreLogic says the average homeowner with a mortgage has more than $300,000 in equity.
Have you been hesitating to sell because you were concerned about home affordability? Your equity can assist with your next move. It could cover a large part, or all, of the down payment for your next home.
Are you considering selling your Kansas City home? Are you hoping to move this year? Now might be the perfect time to list your home! The Just Say Home KC Team can help you start the process to get a leg up on your competition. These dedicated and proficient real estate experts can help you sell quickly and prepare to buy your next home!