There are a number of factors that will dictate the direction of the real estate market in 2016. Those homeowners who are in a position to sell their house should understand how to connect with interested buyers this year. Throughout the entire United States, property values are leveling off and the number of buyers overall is likely to decline. This decline in buyers has to do with reduced affordability on the housing market and increasing mortgage interest rates when securing lender financing. Those homeowners who are determined to sell their house in 2016 will likely have to compete with more real estate inventory and be willing to negotiate with buyers.
Since 2016 is likely to see modest gains in property values throughout the United States, it is an ideal time to sell a house, as the market is increasing in value. Those who list a property now will avoid dealing with a real estate market that is in the process of correcting itself. Since property values have escalated significantly over the last four years, they are likely near their peak and offer sellers with every reason to list their property on the market now. Since buyers are more apt to bid on property when the market is still in an uptrend, preparing to list a house in spring of 2016 appears to be the right move.
Overall, expect the number of buyers throughout the United States to decrease, as high property values and increasing mortgage interest rates are pushing them off the market. It appears that property values and buyer demand have reached an intersection point, as affordability is an issue in many markets. Those homeowners with high-priced real estate will likely have to search even harder for a buyer, as most are priced out of the market. Another factor weighing heavily on buyers in 2016 is increasing interest rates. Since buyers will have to pay more to borrow money, expect many of them to give up their home buying ambitions, reducing overall buyer demand significantly.
Homeowners who list their property on the market in 2016 will likely have to compete with more real estate inventory, as the number of interested sellers are likely to escalate as the year progresses. As soon as the greater majority of homeowners realize that the market is becoming stagnant, many will decide to list their property. If real estate supply increases significantly, while buyer demand diminishes, property values have the potential to head south. Those sellers who want to beat a spike in real estate inventory should list their property in the first half of 2016.
In order to stand out from the other sellers on the 2016 real estate market, it is important to focus on property exposure. While working with a high-quality Realtor is a must, sellers should also employ their own advertising techniques that take advantage of the Internet. Since the greater majority of buyers utilize the Internet when searching for a house, sellers who are able to capture their attention will likely receive plenty of bids and sell their house quickly. In addition to using real estate classified websites, consider taking part in search engine advertising tactics and social media advertising outlets.
Homeowners who are determined to sell their house in 2016 should be prepared to capture the attention of buyers in order to capitalize on the high property values throughout the nation.
Need help making sense of your Onslow County real estate options? Contact us at info@bluehenhomebuyers.com.