4 Urgent Reasons You Should Sell Your Home in 2017
--Mortgage rates are still low. Although mortgage rates have been ticking ticking up since mid-October to slightly over 4%, the rates for a 30-year fixed mortgage—the most popular home loan—are still hovering near 30-year lows. For now.
--Inventory is shrinking. Not only are there fewer homes for sale, but thetime those homes have spent on the market has decreased year overyear as well. If priced correctly, the typical home should move quickly, Smoke says. And that’s another boon for sellers.
--Home prices are rising. Lower inventory and greater demand have pushed up home prices. The median existing-home price in November 2016 was $234,900, up 6.8% from November 2015, when it was $220,000, according to the NAR. And that’s no fluke. That was the 57th consecutive month of year-over-year gains.
Higher prices particularly benefit the seller whose property value plunged during the recession, sometimes to less than he owed. Thanks to rising prices, many homeowners whose property was underwater can now sell without suffering a big loss.