If you're planning to sell your house this year, timing is crucial. You'll want to consider when it's best to sell your current home and when to buy a new one. 

If that's the case, you should know – now is the perfect time to make a move. Here are four reasons why spring is your golden window of opportunity.

1. The Housing Market Is Still Not Meeting Demand

Active inventory in Park City is still not meeting buyers’ demand. The graph below shows that Park City's active inventory tends to drop low in the first quarter of every year and peak in the third quarter.

Source: Park City MLS

This is why home sellers are in the driver's seat today. Sellers who have homes for sale are in demand, and you may have a long list of potential buyers eager to take a look at your home.

2. Home Prices Are Climbing

Most real estate experts agree that an imbalance of supply and demand results in higher home values, so for the time being, prices are expected to increase.  

You can get ahead of the curve by selling now if you're hoping to move into the home of your dreams, or downsize into something that better suits your current needs. There's an opportunity to leverage your growing equity and purchase your next home before prices climb higher.

3. Mortgage Rates Are Increasing Too

According to Freddie Mac, the current average 30-year fixed mortgage rate is 3.85%. Although recent global uncertainty caused rates to dip slightly in the near term, experts project rates will rise in the months ahead.

When that happens, it will cost you more to buy a home in the future. That's why you must act now if you plan to sell. Start working with a trusted advisor to kickstart the process and make your next purchase before rates climb further.

4. Your Equity is Growing in Record Amounts

In its latest Homeowner Equity Insight report, CoreLogic reported that the average homeowner had gained $55,300 in equity over the past year, a vast increase from the previous year.

If you have been holding off on selling your home because you are worried about how rising prices will affect your potential next purchase, you should know that having a lot of equity in your current home can help get you into a new place. It may cover most or all of the down payment on your next home.

Ready to Sell?

If you’re ready to make the most of today's sellers' market, give us a call at 435 640-0217 so you can get the information you need to succeed.