21 Jun 3 Reasons Why 2016 is the Year to Sell!

If you’ve been considering a relocation, upsizing or downsizing your home, experts agree that now is the time to sell. But, what is it that’s making this year such a strong seller’s market? Here are just a few of the factors at work.

The Market Remains Strong – Even with Spring Behind Us.

Traditionally, spring is the busy season in real estate, with home sales tapering off in May and June. But this year, that hasn’t been the case. Locally, and around the country, we are continuing to see growth in the real estate market. House prices are continuing to trend upwards, and sales in May increased 3.4% year over year here in Atlanta. While demand remains strong, supply is beginning to tighten, which means that resale homes may not stay on the market for long.

We’re in the Midst of a Generational Shuffle

Long thought to be ‘home-buying adverse’, Millennials are not only beginning to wade into the homebuyer pool, they’re diving in en masse. And, as Boomers begin to look for downsizing options, many homes are being sold to a newer, younger generation that isn’t necessarily looking to pay the price for new construction. Even if you don’t fall into the ‘boomer’ category, you may find yourself benefitting from these young buyers who are driving up the demand for resale.

Rents Are Continuing to Rise

Regardless of generational differences, rents are continuing to rise across the country. And, as rents continue to rise as much as 14% this year, the answer to ‘Does it make more sense to rent or buy?’ is increasingly ‘Buy!”. And, as more and more new buyers enter the market, we can expect supply to continue to tighten, which will help to maintain home price growth…all good news for a seller.

While we may not be seeing meteoric growth in the market, 2016 has shaped up to be a time of steady, sustainable growth, and a great time for sellers!

“for sale” (CC BY 2.0) by netan