1. Higher Prices
There are more buyers in the market than homes available for sale. Buyer competition drives home prices up and can work to your advantage! The win here is the potential of getting more for your property!
2. Return on Your Investment
ROI – Return on Investment is always a win for Sellers! With the rise in home prices, this means your home is gaining value and that drives an increase in your homes’ equity.
According to the Homeowner Equity Insights Report issued by CoreLogic “In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity.”
The biggest plus here is that if the year-over-year growth in equity continues you may have a large increase in wealth.
Forbes says, “If you are planning to sell your home, the higher the equity amount, the more cash you will get out of the sale. For most, the equity built up in a home is the largest financial asset and an incredible way to build wealth.”
3. Terms of Sale
Most of the time when the housing market is in what we call a “seller’s market” driven by low inventory, the Seller is usually in the driver’s seat. This means buyers are likely not to request “special terms” and they are often more likely to work within your terms so that they can present the most desirable offer and move into their dream home faster.