Should you sell your home in 2019?

7fbe50ec634c65709d7fe6ac267c4e6f.jpg

By Carrie Qualters, Bright Homes Atlanta | 404-724-5550 | www.brighthomesatlanta.com

Should you sell your home in 2019?

There are some compelling reasons why you should:

1. Interest rates are historically low and rising. Mortgage interest rates at the end of 2018 were still trending under 5%. While rates are at their highest level since February 2011, they remain much lower than the historic high of more than 18% in 1981. Lower rates mean more buyers can afford to buy your house - and make your next home purchase more affordable. While big jumps in interest rates are not expected anytime soon, all experts predict rates to continue to creep up throughout 2019.

1000 hedgerose lane.jpg

2. A shift in the real estate market is coming if it isn’t here already. Home price growth slowed in the second half of 2018. The real estate market cycles every 8-12 years historically, and we may be due a shift in the real estate market. It’s doubtful that we’re facing anything dramatic like the last downturn, but it’s likely we won’t see years of double-digit price gains for much longer. Recent surveys by Zillow and the WSJ point to a potential recession in 2020. For potential sellers, the very best time to sell may be right behind us. The next best time could be now.

3. Your home is in a higher price bracket or in a second home market. These markets are more susceptible to a downturn and are already seeing significant changes in market dynamics.

4. While there are certainly financial factors that go into a decision to sell your home, the driving forces behind the majority of sales we manage are personal ones. Your personal home is not an investment – it may make money or lose money, but at the end of the day it is yours and you have enjoyed it.

Selling is about change, new locations, growing families, empty nesters, changes of scenery. It’s a personal decision based on emotion and family. If you need more storage, have grown your family, or have more space than you want to maintain, it’s a good time to sell. But again, if these factors may be in play soon, you may want to consider selling sooner rather than later.

If you love the home you’re in and want to stay in it for the next 5 years or more, definitely wait until then to revisit the question of whether to sell. But if you’re tossing around the idea of selling in the next few years, consider these compelling reasons why now may be a good time. We love helping our clients plan to optimize their move financially and for their changing lifestyles. Call us today to find out if 2019 may be the year for you to sell.