There are many reasons people consider selling a home. Whether you’re thinking of upgrading, downsizing, or simply making a change, you may be wondering if the timing is right. Here are several reasons why this may be a good time to put your home on the market. Interest rates are at an all time historic low and Houston housing prices have been stable. Chances are that your home is worth more than even a few years ago.
First-time home buyers have a strong incentive to purchase homes this year, as an $8,000 tax credit is available to most people who haven’t owned a principal residence in the last three years. Record-low interest rates motivate buyers to act on their desire to purchase a home and give them more purchasing power. Unlike several other states that experienced wild price fluctuations and skyrocketing foreclosure rates, Houston does not have a glut of unsold homes. According to the Real Estate Center at Texas A&M, the statewide supply of homes is at a level that leads to a fairly balanced market. Individuals and businesses continue to move to Houston, and this ongoing population growth feeds a strong demand for housing.