When you list your home, you want it to sell for the highest price possible, and it looks like now is a great time to make that happen.
According to a recent article from Redfin, the median home price in the US for May was $315,700. That’s up 3.6 percent year over year—the largest annual home price increase in seven months.
Not only are home prices on the rise, but thanks to falling mortgage rates buyer interest is on the rise as well. “As mortgage rates have fallen this month, Redfin has seen upticks in the number of people wanting to talk with our agents about buying homes and the number going on home tours,” said Daryl Fairweather, Redfin’s Chief Economist, in the article. “Recent surges in mortgage applications also reflect the impact low rates are having on homebuyer demand nationwide.”
Thanks to increasing home prices and buyer demand, the housing market right now is very seller friendly. So if you’ve been thinking about selling your home, now is a great time to make a move.