What To Do To Sell Your Home Fast Even When Interest Rates Are High
Few things are quite as terrifying to those who wish to sell their homes as the ups and downs of the housing market. That’s been particularly true over the past several years. Just a few months ago, the average UK house price fell at the sharpest rate in more than a decade, and they’ve continued to drop since then. Borrowing costs are on the rise, and mortgage approval ratings are down. All of this is terrifying for those hoping for a quick home sale. Do the predictions suggest that next year will hold something significantly different?
Sales May Remain Down For the First Half of the Year
Experts have suggested that thanks to interest rates that remain high, the number of sales may stay fairly low through the first half of the year. Eventually, however, those mortgage rates will go down, and when that happens, sales will start to recover, and prices will once again go up.
How Long Will Homes Stay On the Market?
Right now, homes are spending between two and three months on the market, and that’s likely to remain the same through the first half of 2024. Experts suggest, though, that those numbers may also change as the demand for homes goes up during the second half of the year. Some homes tend to stay on the market longer because of property chains, which can be a real issue when prices and demand stay low.
A Faster Way to Sell Your Home?
There are fast ways to sell your home, even in a market that isn’t geared toward quick home sales. Cash buyers looking for opportunities will find them as long as prices and demand stay low, and because sometimes you simply can’t wait to sell your home, there will be many home sellers who are desperate to make a deal. Quick sale home buyers abound in markets like these, and while you may not get the price you would have obtained just a few years ago for your home, you’re still likely to get 75% to 80% of market value with these buyers. Those looking for homes for quick sale will be able to find quite a few bargains in a market like this.
Wondering how you find these buyers? Often looking at quick sale home-buying companies online will help connect you with reputable buyers who will help you sell your home very quickly. Just getting in touch with them will start the process itself. Do some research about each company you consider, though, so you can make certain you’re working with a legitimate company that handles quick home sales for cash.
The Market May Change Directions Again
While many analysts predict quicker home sales toward the second half of 2024, it’s tough to tell exactly what will happen. If you need to sell your home fast, you may not be able to wait for the market to change. Contacting a cash buyer may be the best way to sell your home fast in 2024.