Should I Sell My Home In This Shifting Market?

There have been interesting shifts in the housing market over the last several months. Although inventory remains low, available homes have increased. Mortgage rates have gone up. Buyer’s money doesn’t go as far and they are pickier about what they buy. We’ve seen price reductions and homes sitting on the market for (what!!) over a month. With all of these changes, sellers may wonder if they should still sell their home.

First, the “slowdown” works to your advantage. In the last year it was almost impossible to buy a home contingent on selling yours. Home sellers were forced to find less than ideal solutions, such as temporary housing, rent backs, or short term financing. There is more opportunity now to find a replacement home with less pressure. There are more homes available, and there is more chance of getting your offer accepted with a home sale contingency.

Second, even though the inventory of homes has increased, we are still in a seller’s market. According to the National Association of Realtors, in July 2022 there was only a 3.3 month supply of homes. Anything less than six months is a seller’s market and keeps buyer demand high. There are still many buyers looking for the perfect home, which could be your home. This does mean your home needs to be priced right and in good repair. 

Third, your home value has appreciated in bounds over the last two years, up 18% in 2021 alone. This means you have a large amount of equity that you can use toward your replacement home. This puts you in a position to use your equity for several options when you sell – upgrade, downsize, invest, save, etc. 

The housing market is shifting, but it is allowing sellers a great opportunity to capitalize on their equity. Home values remain high, buyer demand is strong, and buying a replacement home has become simpler.


Pricing Your Home to Sell 

What is the big deal about pricing your home right to sell? As a home seller, you may be thinking, “Wow, this market is great. There are so many buyers looking for homes they’ll pay anything! I’ll just mark my price up and see what offer I get.”

Unfortunately, this kind of thinking backfires. Even though buyers are looking for homes, they are pretty savvy and know what homes are selling for. Also, their real estate agent will be checking comparable homes to see what your home should be listed for and how your home compares to other homes on the market.

8 Must Haves for Your “Final Home” Purchase

In all cases, this “final home” purchase feels heavy. There’s a lot of pressure to find the perfect home. Here are some considerations to keep in mind if you are preparing to find your forever home.

11 Summer Fun Activities Within An Easy Drive of Lancaster County

One thing that is so great about living in Lancaster County is that you are a short drive to fun attractions in neighboring counties! There are so many places to visit you could fill up every weekend trying something new. Some of these are my favorites, while others are on my bucket list. I would love to know your favorites!

Is A Multi-Generational Home Right for You?

Multi-generational living is on the rise. It’s not unusual for grandparents, parents, and children to live under the same roof. But is multi-generational living right for you? Let’s take a look at the pros and cons of living in the same home with several generations of one family.

The 2024 Housing Market is Heating Up | Lancaster County, PA

This year’s housing market is off to a great start! Are you a home buyer or a home seller? Are you curious to know the latest 2024 spring housing market stats? Let’s take a look at what’s happening with the housing market both locally in the Lancaster, Pennsylvania, area and nationally. We’ll take a look at home sales, housing inventory, home prices, and other key points.