Quite a few sellers decide to take their home off the market during the winter months and then re-list their properties in the spring.
Some sellers do this because they don’t want to be bothered during the holidays with showings, or don’t want to deal with showing their home with two feet of snow on the ground.
Is this a wise decision, though, in 2013?
I’ve listed four reasons below on why now is actually a great time to sell or leave your home on the market.
1. Low inventory – We are still dealing with high demand for housing, so the chances of finding a buyer, even during the winter, are good.
2. Less Competition From Sellers – Because so many sellers take their homes off the market in the winter, there is even less supply for buyers, and thus, less competition for your listings.
3. Rising Rates – Interest rates have slowly risen since the beginning of this year; who knows what they’re going to be like in the spring? Therefore, it makes sense for many to buy now and lock-in a low rate.
4. Less Frantic Marketplace (or something like this) – Finally, buyers may now have more confidence to enter the market. With less buyers looking for properties, there are not as many dreaded “multiple offer situations,” and without the fear of so much competition, buyers may feel more comfortable searching for a home.
So if you’re looking to buy or sell, I say this is still a great time to enter the market!
Anna Mayer-Huls is a broker associate with @properties in Chicago. She can be reached at:
1875 North Damen
Chicago, IL 60647