What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

Shoghig Shirley Andriopoulos

Locate Your Dream Home











Shoghig Shirley Andriopoulos

Park Regency Realty

The Top Reasons for Selling Your House

February 06, 2023


Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak, they’re still higher than they were a couple of years ago.

Today, 93% of outstanding mortgages have a rate at or below 6%. That means a strong majority of homeowners with mortgages have a rate below what they’d get if they moved right now. But if you’re a homeowner in that position, remember that mortgage rates aren’t the only thing to consider when making a move. Your mortgage rate is important, but there are plenty of reasons you may still need or want to move. RealTrends explains:

“Sellers who don’t have to move won’t be moving. The most common sellers will be: Homeowners downsizing . . . people moving to get more space, [households] looking for better schools…etc.

So, if you’re on the fence about selling your house, consider the other reasons homeowners are choosing to make a move. A recent report from the National Association of Realtors (NAR) breaks down why homeowners have decided to sell over the past year:

The Top Reasons for Selling Your House | Simplifying The Market

As the visual shows, the most commonly cited reasons for selling were the desire to move closer to loved ones, followed by moving due to retirement, and their neighborhood becoming less desirable. Additionally, the need for more space factored in, as did a change in household structure.

If you also find yourself wanting a change in location or needing space your current house just can’t provide, it may be time to sell.

What you want and need in a home can be reason enough to move. To find out what’s right for you, work with a trusted real estate professional who will offer advice and expert guidance throughout the process. They’ll be able to lay out all your options – giving you what you need to make a confident decision.

Bottom Line

When deciding whether or not to move, you have a lot to consider. There are plenty of non-financial reasons to factor in. Connect with a local real estate professional who can help you weigh the benefits of selling your house.


Tags:

Featured Listings

listed
Welcome Home to Paradise...As you enter through this beautiful home you can immediately feel a sense of peace and serenity throughout. This piece of heaven offers 3 bd & 2 bath, 1,968 sq ft home situated on 1.88 acres...
$799,000
listed
3
beds
2
baths
1,968
Sq Ft
listed
Welcome home to this wonderful corner unit, next to open space parking and easy access to driveway entry. This well maintained 2 story condo is ready to welcome you. It features 3 bedrooms , 1 full bathroom with newly replaced bathtub upstairs...
$644,000
listed
3
beds
2
baths
1,144
Sq Ft

Recent Posts

Get Started!