Look forward to less competition and more motivated buyers
Here’s an overview of why selling in the winter may be smarter:
- It continues: Buyer demand is outpacing the supply of available homes for sale, so homebuyers frequently compete to snatch up limited listings.
- Housing inventory sits below the 6-month supply required to support a healthy market.
- This may be the ideal time for you and your family to move forward to a new location or a larger place without anything holding you back.
Get prequalified in minutes and find out why now’s a great time to move up to a bigger or better place.
Another perk to keep in mind if you’re a wintertime seller: The buying and selling process is likely to move a lot faster.
Because of the competitive market conditions mentioned above, homebuyers have to do whatever they can to stand out — including getting prequalified for a mortgage before they start shopping. This speeds up selling significantly. It can also make selling simpler. Buyers may know how much they can afford before they start attending showings and submitting offers on your house.
Ellie Mae’s Origination Insights Report for late 2019 showed that the time to close on a mortgage was 44 to 47 days. Some mortgage lenders offer an exclusive 10-Day Close year-round, with the potential for even quicker closings in non-peak seasons.
Winter sellers, does your next dream home await?
As you’re prepping to sell and move up, you probably have questions. What size down payment will I need for a larger house? Should I sell my house before I buy another one? Will I make more money if I become a landlord? Get prequalified and get connected to a local loan officer who can get you answers — and into your new home — fast.
For educational purposes only. Please contact your qualified professional for specific guidance.
Sources deemed reliable but not guaranteed.