People’s lives and housing choices were significantly influenced by the pandemic era. Homeowners realized they needed alternative features and facilities, such as accessibility, outdoor space, a pool, etc., after spending so much time at home in the previous year was the main factor driving their decision to sell. The desire to capitalize on the current market came in at number two, followed by the awareness that the space, amenities, and location of the previous homes no longer suited the needs of the families of the homeowners. The 23% of sellers who seek closer proximity to their loved ones and friends also brought up the topic of changing societal requirements. Recent data from Realtor.com, provides us the top 5 reasons why individuals are selling their properties.
Aside from these, other factors include wanting to live near family/friends (23%), a more affordable home (23%), a smaller house for less maintenance (22%), the recent house was bought out of panic and it wasn’t their ideal home (20%), a need for fast cash (20%), no longer to live near their workplace (17%), and other reasons (3%).
The Bottom Line
When reassessing your housing and real estate objectives, it’s crucial to take the market and your own circumstances into consideration. Talk to a professional right away if you need assistance analyzing your options and comprehending the real estate market of today. They can give you a better assessment and let you know when it would be ideal for you to sell your home.
