A few days ago we discussed 3 reasons to sell now and start shopping for Illinois new homes. Our top 3 reasons were rising interest rates, more demand and the simple fact that you’ve been waiting long enough and are probably more than ready to move!
Today we highlight 3 more reasons to sell now and start shopping for Illinois new homes. The time to buy a new home could very well be right now.
#1: Supply is on the rise
As more homeowners see the value of their home on the rise, more homeowners are listing their home for sale. Nationwide housing inventory rose 11.9% last month which equals a 5.2-month supply compared with a 4.3-month supply posted in January. A few month ago lower supply numbers were encouraging sellers to get in the market. Getting your home on the market now before supply rises even more could help sell your home faster for a better price.
#2: Prices are going up
Home prices across the country are on the rise. Waiting longer to sell your home may mean you’ll get more money for your home, but keep in mind, the new home you buy will also cost more. If you wait longer to list your home thinking you’ll be able to demand a higher price, also keep in mind you’ll have more resale and new construction homes to compete with.
#3: More new construction homes
More builders are starting to build “spec” homes which will directly compete against your home for sale. Sell your home now before Illinois new home builders put their beautiful new homes on the market to sell, especially if you live near a new home community.
There you have it, another 3 good reasons to sell now and start shopping for Illinois new homes.