Should I Sell My House Now or Wait?
It’s no secret that we’re seeing changes in the Chicagoland housing market as interest rates climb and buyer demand slows. Fortunately, there are benefits to selling in a slowing seller's market. We’ve put together our top reasons selling your Chicagoland home now may be a better option than waiting to see what happens in the new year.
Benefit: You Have Great Options For Your Move
We’ve all seen the growing housing inventory in Illinois and throughout the country this year, as rising mortgage rates slowed the post-COVID lockdown real estate frenzy. While this seems like a negative for anyone getting ready to sell a home, there are benefits waiting for you when buying after you sell your home.
If you’re selling your home due to an upcoming move, it means you’ll have a broader range of options when shopping for your next property. This offers you a great opportunity to find a home at a competitive price. So, if you have been waiting to move due to housing inventory shortages, it’s good to know that more options are available than last year, and the bidding wars have slowed dramatically. While you may have to wait a little bit longer to sell, you’re not going to be facing repeated disappointment and heavily inflated prices when moving to a new home.
Benefit: Inventory Throughout Illinois is Still Low
While the number of available homes for sale has increased this year, this is still considered a sellers’...