Why Fall 2013 is a Good Time to Sell Your House

Last week, the Toronto Real Estate Board (TREB) released its numbers for the month of September. Home sales in the Greater Toronto Area (GTA) increased 30 per cent over September last year, indicating a strong level of consumer confidence in the housing market.

Meanwhile, the Bloomberg Nanos Canadian Confidence Index, also out last week, shows that Canadian consumer sentiment is more positive than it has been in over two years. Bloomberg Business Week concludes this is because of rises in employment rates and the housing market. Canadian consumers feel good when the real estate market is strong.

Sell Your House This Fall

Don’t miss this home for sale on ComFree.com!

Sellers Should Capitalize on Confidence

So what does this mean for home sellers? We asked Randall Weese, Licensed Broker of Record at ComFree Commonsense Network brokerage in Ontario.

“The 30% increase in sales over September 2012, and heightened consumer confidence say to me that now is a good time to sell,” Randall says.

“Traditionally, homeowners in Ontario like to list their homes for sale in the spring. That’s seen as the best time to sell, and starting in March the market typically gets flooded with listings.”

But, Randall argues, sellers can capitalize on the current sentiment of consumer confidence. “Right now there is a sense of vitality in the real estate market, but because it’s fall there is less inventory for sale. We think: if you’re planning to sell anyway, why wait until spring?”

Buyers Are Locking in Mortgage Rates

There’s another reason for sellers to consider listing this fall, rather than waiting for next spring. In August, several Canadian banks increased their fixed-term mortgage lending rates. While the Bank of Canada will likely not increase its rates until late 2014 or early 2015, potential home buyers are moving to lock in favorable fixed-term mortgage rates.

“Buyers are securing mortgage quotes now, while rates are still low,” says Randall. “They’re looking to buy now. Who knows what the spring will bring? Mortgage rates could go up, meaning fewer qualified buyers and a more crowded market.”

“It’s even more reason for sellers to list their homes for sale now, while the market is hot,” he continues.

Randall notes that while there is no reason to be gloomy about the housing market in early 2014, there is no better time than the present to sell.

Get Ready to Sell

While parents with kids in school might be unwilling to uproot their families during the school year, now is a great time for others to sell.

People looking to downsize for retirement, for instance, should take advantage of favorable market conditions to get the best possible price for their home.

If you want more information about selling your house this fall, the ComFree network offers info sessions about how you can sell your home and save thousands of commission. Click here to sign up and learn more.

1 comment

  1. Jean Graham says:

    What a nice entrance!

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