As the year draws to a close, we reflect on the lessons learned in 2021. There’s never been a year quite like this one, and in real estate, it’s a different game out there. Listing your home for sale during the winter was previously thought to be a disadvantage, but in today’s competitive market it can be a powerful differentiator. Here’s why:
- Home prices have continued to trend upward in most communities as inventory constraints continue to support those market fundamentals.* Listing during the holiday season may mean there are fewer listings to compete with, putting the spotlight on your home.
- Homebuyers are serious. Many have endured months of bidding wars and are ready to have their offer accepted in time for the new year. “And of the buyers who are looking during the holiday season, many are serious about making an offer and not just looking, particularly those who’ve been trying to purchase for months and have lost out in the bidding wars,” according to a recent report by USA Today.+
- Interest rates may rise in 2022. Empowered by low interest rates, more homebuyers entered the market in 2021. According to the Mortgage Bankers Association, interest rates may increase 1 point to 4 percent in 2022, which may slow buyer demand.+
If you’re ready to move, there’s no reason not to list your home during the holidays. The advantages are evident for both buyers and sellers.
Look to 2022 for real estate to continue to set price records as interest rates are expected to remain affordable and Compass professionals continue to monitor the market.* If you’re considering a move in the near future, don’t rule out buying and selling this winter. You may open the gift of a new home this holiday season.
*Source: Los Angeles Quarterly Market Insights Report (Micro): Q3 2021
+Source: USA Today: Is it a good idea to list your home during the holidays? In 2021, yes. Here’s why.