Many people will sell their homes this year because houses are selling 15 percent faster than they did last year. If you have a home and need cash, there are three great reasons why you should contact a cash for homes company.
Low Housing Supply
The ball is still in your court because inventory is tight in many cities. The National Association of Realtors reported that the number of unsold homes was low earlier this year. This means that all of the unsold inventory will sell within the next five months. During typical market conditions, a five-to-seven month time span is balanced. The biggest benefit is that tight inventory boosts the average cost of a home. If you sell your home now, you will get great offers.
Higher Interest Rates
Although mortgage rates are low, industry experts think that more homeowners will sell their homes over the next few months. The Federal Reserve reported that interest rates will rise very soon; this is why people are now taking advantage of the lower mortgages costs. Because interest rates are escalating, more people will buy homes this year. This is why many cash for homes companies are searching for people who would like to sell their homes. To learn more about interest rates, click here.
Many individuals are also buying homes now because rental prices are constantly rising. In the United States, the cost of rent increased by 15 percent over the last five years in over 50 metro locations. Each time rental costs increase, more tenants move out so that they can shop for a home.
Benefits of Contacting a Cash for Homes Company
Last year, nearly 30 percent of all offers were all-cash offers. This year, the housing marketing will be more sustainable and stable based on price growth.
To learn more about the benefits of selling a home for cash, follow this link.