How do you know when it’s the right time to make your move to your dream home? You want to time it just right so you can get the most out of the sale of your current house, but also want to know you’re making a good investment when you buy your new home. That opportunity to get the best of both worlds may be right now.


  1. The Number of Homes on the Market Is Still Low

The supply of houses for sale right now is putting sellers in the driver’s seat. There are far more buyers in the market than there are homes available, and that means multiple offers pushing sale prices up. Experts are projecting more inventory will come to market as we move through the winter months into spring. Selling now may help you maximize the return on your investment before your house has to face more competition from other sellers.


  1. Your Equity Is Growing in Record Amounts

Current homeowners are sitting on record amounts of equity thanks to today’s home price appreciation. According to the latest report from CoreLogic, the average homeowner gained $56,700 in equity over the past 12 months.

That much equity can open doors for you to make a move. If you’ve been holding off on selling because you’re worried about how rising prices will impact your own home search, rest assured your equity may be just what you need to cover a large portion of the down payment on your next purchase.


  1. While Rising, Mortgage Rates Are Still Historically Low

In January of last year, mortgage rates hit the lowest point ever recorded. Today, rates are starting to rise, but that doesn’t mean you’ve missed out on locking in a low rate. Current mortgage rates are still historically far below what they have been:

  • In the 2000s, the average mortgage rate was 6.27%
  • In the 1990s, the average rate was 8.12%

Even with mortgage rates rising above 3%, they’re still worth taking advantage of. You just want to do so sooner rather than later. Experts are projecting rates will continue to rise throughout this year, and when they do, it’ll cost you more to purchase your next home.


  1. Home Prices Are Going to Keep Rising with Time

According to industry leaders, home prices will continue appreciating this year. While experts are forecasting more moderate home price growth than last year, it’s important to note prices will still be moving in an upward direction throughout 2022.


What does all this mean for you? If you’re selling so you can move into a bigger home or downsize to the home of your dreams, you want to consider moving now before rates and prices rise further. If you’re ready, you have an opportunity to get ahead of the curve by purchasing your next home before rates and prices climb higher.