If you haven’t yet heard, this year is shaping-up to be one of the best seller’s market in ten years. Whether we’re looking at the coming interest rates, the lending standards, or the market analysis, this year is predicted to be one for the history books. Why are we seeing such a shift in the market? There are a few factors that are contributing, and we’re sharing those with you today. Whether we’re talking about motivated buyers or factors specific to our local economy (hint hint: Amazon’s potential ATL arrival), there are a few changes that might contribute to the boom.
Interest rates are going up. While higher interest rates might sound appealing as a seller, the reality is that with low interest rates, buyers are motivated. Buyers will want to make a purchase while rates are low in order to maximize their budget. As a result, many potential buyers who have been on the fence about making a purchase, like millenials, will be ready to pull the trigger, especially before rates get any higher. Additionally, from a seller’s perspective, selling now will enable you to move and get a new home while rates are low. It’s a win win for everyone!
Amazon may be coming. Now that Amazon has released its 20-city shortlist, cities like Atlanta are on bated breath to see what the e-commerce giant’s arrival will mean for the housing market. Immediate impact won’t be seen for a while, but we can only assume that housing prices will likely sky-rocket should Amazon choose Atlanta. If that is the case, experts suggest this year will be the time to sell (and in turn, buy). Markets like Atlanta can easily absorb the people that will be flocking to the area, but we can predict market prices will certainly increase.
Georgia will continue to have one of the strongest markets. Research indicates that of all 50 states, Georgia is already in line to be one of the top 10 markets of 2018. Home values jumped 10% between 2016 and 2017, plus the state boasts a strong median property value of just over $218k. With a strong demand for housing, yet little property availability, sellers are encouraged to strategically list their homes now.
Whether you’re considering selling your home to maximize value this year or in years to come, we’d love to be your listing agents. We pride ourselves on our area expertise and can help you not only determine the time to sell, but help you find your new home, too. Contact us with any questions you have about selling. We look forward to speaking with you!
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