Just a few years ago, selling your home wasn’t a task for the week in heart. People were finding that their homes weren’t worth what they were selling for in the early 2000′s. Some people who purchased their homes at the top of the market were seeing that their homes were worth less than they paid for them. Most of the people who sold their homes during that market had to sell then and could not wait.
If you were scared off by the price you home was worth a few years ago, now is a better time to sell your home. There is less inventory to choose from, housing prices have been increasing throughout the past year+, and there is much more consumer confidence.
Upper end home buyers didn’t have to sell or buy homes during the recession, so many of them didn’t. Now the upper end housing market has gained strength again. More expensive homes are changing hands. It could be that the upper end housing market is stronger than the entry level housing market right now.
Entry level housing is slower than it has been over the past few years. The home buyer incentives are gone and interest rates are creeping back up. As rental rates and rental scarcity continues, I think the entry level home buyers will be back in the market within the next month or two. A mortgage is still cheaper than renting a home in the Chattanooga area.