When Is The Best Time To Sell Your Home In 2022?

Traditionally, Spring has been the most popular time to list a house, however COVID-19 and the surge in home values have made the real estate market anything but traditional. But, where does that put you as the homeowner if you're interested in selling your home sometime this year?

Is Spring 2022 still going to be the best time of year to list your home, or will the continued uncertainty of the pandemic, economy and other unexpected events affect the timing?

If you're considering selling this year, make sure you know what you're dealing with before taking the plunge.

What Will Home Sales Look Like in 2022?

Home sale values rose significantly in 2021, and according to Fannie Mae, the trend is expected to continue into 2022, although at a slower rate. In 2021, issues with the supply chain and construction materials meant fewer new homes being built. This decreased the available housing inventory that would have been helped by new construction. In turn, this increased demand and caused home values to jump.

While I'm seeing a good amount of new construction already, I can't say it looks as though there's more construction compared to last year. Instead, it may seem like there's more new construction due to the lack of resales (older homes being listed) which makes it seem as though there are more new homes being built. That being said, I think home values for sellers will remain high through most of the year.

Will 2022 be a Buyer's Market or a Seller's Market?

The predictions from experts indicate that 2022 will continue to be a seller's market. However, there are indications that bidding wars driving up your sales price will happen less frequently. This could mean buyers can be more flexible with purchase contracts and avoid all-cash or offers with waived contingencies, etc.

I predict we'll continue to see a strong seller's market for at least the first half of 2022 and maybe longer.

Are Mortgage Rates Going to Affect Home Sales in 2022?

Even minor increases in mortgage interest rates can affect home sales. Even though there was a slight increase in 2021, there's currently no indication of major jumps in 2022. However, there is some indication that we'll see another increase in mortgage rates soon. That could be a good enough reason to list your home sooner rather than later.

If It's Going To Be A Seller's Market, When Should I List My Home?

Look to list your home before September at the very latest this year. Families begin preparing for the beginning of the school year and interest tends to drop off from there into the winter months.

Listing your home on a Thursday can increase the chance of your home selling quickly and for more money as there's more available free time for potential buyers to view homes and make decisions over the weekend. 

Listing your home on a Sunday makes it difficult for potential buyers to find time to see the home until later in the week, resulting in your home sitting on the market for longer. This is only slightly better when listing your home on a Saturday or Monday.

One final note, it typically takes at least two months to prepare your home for sale. You'll need to research and find the best real estate agent in the area to help you with the listing process and recommend a listing price. You'll need to clean and stage your home for listing photos and make any minor repairs to get your home ready to sell.  So, have an idea of when you'd like to sell and work backward from there.

So, Is Spring STILL the Best Time To List My Home?

The warmer weather is typically when buyers get rid of their winter blinders and hit the market in search of new homes, and I'm not seeing anything to suggest a change in that tradition. Home inventory was low throughout all of 2021 and I expect it to remain low and remain a seller's market into the spring. 

That being said, YES, Spring will still be the peak selling season and the best time to list your home in 2022. However, with buyer intent remaining strong and a bump in buyer intent early in the new year, I would suggest getting on the market ASAP to beat anyone that is waiting for spring.

In this market, less competition is a good thing.

I hope this information was helpful, if you made it this far - leave a comment or question and I'll be happy to answer. Or better yet, get in touch!