There are at least five reasons that spring sellers may have an advantage:

1. Housing inventory is still tight.

When housing inventory is limited, you may be able to sell your house quicker and at a more competitive price.

The numbers support this:

• Though inventory is up year-over-year, housing inventory has yet to recover from its record-low levels.
• Spring is the season when more buyers typically enter the market; your home may get more attention.
• According to the REALTORS® Confidence Index (RCI), listings are still receiving roughly 2.5 offers on average.

Buyer interest in your home may be even higher, depending on the dates you list this spring. Data from realtor.com® found April 10 to 16 to be the “best time to list a home in 2022.” (2023 data is not yet available.) List then, and you might see 30 percent more viewings, 13 percent less competition, and $40,000 more profit. Notably, ATTOM Data reported that the top five days to sell in 2022 were in May.

Want to simplify selling? Use Academy’s *Pre-Approval+ to get the paperwork for your next home purchase out of the way.

2. You might have a lot of equity.

As home prices have risen, home equity has also been growing by large amounts. The average homeowner may have gained as much as $34,300 in home equity within the past year alone, based on CoreLogic’s latest numbers. If your equity has increased, it’s there for the taking. Whether you hope to trade up, relocate, or downsize, you could leverage your equity gains.

“Potential home sellers gained significant amounts of equity over the pandemic, so even as affordability-constrained buyer demand spurs price declines in some markets, potential sellers are unlikely to lose all that they have gained,” Mark Fleming, First American Chief Economist, explains.

3. Mortgage rates are expected to moderate.

Some housing authorities predict that if inflation continues to ease, mortgage rates will follow. Moderating mortgage rates can help to boost affordability. If this happens, industry insiders say that they expect sales to pick up as declining rates draw out more buyers.

It’s helpful to keep in mind that:

• Compared to past decades—like the highs seen in the 1980s—today’s rates are still considered relatively low.
• If mortgage rates level out, it could bring more buyers back to the market while also making it more affordable for you to buy a new house.

The rock-bottom rates seen during the pandemic simply weren’t sustainable. “As people realize that the 3 percent rates are not coming back anytime soon, mortgage applications have picked up,” Nadia Evangelou, National Association of REALTORS®, Senior Economist, says.

4. Housing prices are likely to rise in the future.

This year, home prices are predicted to fluctuate locally, while national home prices remain fairly stable.** For homeowners, this could be beneficial. You may have an opportunity to sell your house at a good price—depending on when you list and the conditions of your market—and then purchase a new home in your price range.

However, home prices usually appreciate by a small percentage each year and are expected to do so in 2024. ** It could be worth weighing if it’s smarter to list now and get into your next house before prices rise any higher. For expert insight into your market, contact your local Academy Loan Officer.

5. You can find a home that meets your current needs.

The past few years have brought countless changes. If you’ve transitioned to working hybrid or fully remote, you may be spending more time at home than you ever anticipated. Does your house still fit your life?

If your family has grown and/or you’re working remote, you may need more space. If children have left, it may be time to downsize. You might also be hoping to reduce your cost of living and relocate. You and your family’s current needs can help you decide if the time is right.