Home prices continue to rise as we move through the summer, and that’s good news for sellers who are looking to maximize their home’s potential. If you’re on the fence about whether to list your house now or later, the question you should really ask is: will this price appreciation last?
Here’s what three top industry experts have to say about the future ahead:
Lawrence Yun, Chief Economist, National Association of Realtors (NAR):
“At a broad level,There is no chance of home prices fallingDue to the limited inventory,but I do expect prices to increase at a slower rate towards the year’s end.”
Selma Hepp, Deputy Chief Economist, CoreLogic:
“The inequities between the booming demand and the sluggish supply of for-sale homes has led to a continual bidding war over asking prices, which reached record levels in recent months . . . . However, there are many listings and new constructions.The home price acceleration that has been growing in speed and continues to climb new heights is likely to slow down during the summer months, however it will will remain in double-digits.”
George Ratiu, Chief Economist, realtor.com:
“Many sellers are going to take advantage of higher prices. This summer will mark the beginning of the next chapter.This is likely to be the year they’ll put their house on the market.”
What it means for you:
Experts agree that the summer months give sellers an opportunity to make money on the current home market. And while prices aren’t expected to depreciate, the rise in prices is forecast to moderate over the next few years. That means selling your house today could bring you more money.
Listen to the experts. If you’re ready to make a move, let’s connect to discuss selling your house sooner rather than later so you can take advantage of today’s home price appreciation before it moderates.
This post was originally posted on Simplfy the Market