For a successful real estate transaction in Wilmington and Newark, it takes two— both a homebuyer and home seller. Homebuyers have recently been built up as more confident than ever in their ability to purchase a new home—taking the local real estate market by storm— but now, home sellers are joining in.Wilmington home sellers are now recognizing that the low mortgage rates and housing prices won't last forever and now is a great time to move!

According to Fannie Mae in their most recent National Housing Survey, "The share of respondents who believe now is a good time to sell a home increased for the third consecutive month to an all-time high of 42 percent, an encouraging sign since many potential homebuyers will need to sell a home before entering the purchase market."

It seems the market has seen an overall shift in attitude for home sellers, with one senior advisor stating consumer attitudes toward selling are now at the most favorable level they have seen in the survey's four-year history. 

So why the sudden shift now? Wilmington, DE home sellers do not see the benefit in waiting to purchase a home or waiting for market conditions to move next to perfect. Home prices and mortgage rates are projected to continue rising over the next year and sellers are ready to take advantage of the current levels. Sellers also acknowledge that they are more likely to attract a homebuyer and come out with a sales price they are happy with while these mortgage rates are still low.

The majority of home sellers are looking to jump on this exciting time for Delaware real estate as they expect home prices to stay relatively the same, if not rise, over the next year. The survey's participants found only 5 percent actually expect prices to drop over the next 12 months. This is great news for both parties, as Wilmington and Newark homebuyers don't want to buy a home that may be worth less down the road.

There may indeed be more benefits to selling a home in Wilmington now versus waiting out the market— so take note! If you're ready to start your home search and like many others, attract homebuyers to your property while mortgage rates are still low, contact the KG Home Team today! We can help you sell your current property and be onto the next to enjoy the summer!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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