When the ball dropped on New Year's Eve this year, did you ever think we'd experience anything even close to what we've experienced so far this year? I know I didn't. So, it seems appropriate that homeowners might think to wait on selling their homes right now. But they'd be wrong. It's actually a great time to sell your Tucson home. In fact, this could be one of the best times to sell that we've seen in a long time.

Even though the opposite may seem true, now is actually a great time to sell your Tucson home.

Why Now is a Great Time to Sell Your Tucson Home

Buyers are Out in Full Force

Search Tucson homes for saleAs Arizona starts its journey to totally reopening all businesses, home buyers come out of "hiding" in their search for a new Tucson home. Being forced to spend more time inside their homes in the last few months opened homeowners' eyes to what it might lack. Many found that they need more room, outdoor living space, and some more privacy. Also, with more companies asking their employees to work remotely from home for a while (if not permanently), people find that the temporary office they set up in the dining room just won't cut it for the long haul. Therefore, they need to upgrade.

Housing Availability is at a Low Point

Buyers may be out in full force but the pickings can be slim. Even before COVID-19 hit, inventory levels were low. Now, they're even lower. This doesn't appear to be a trend set to reverse itself anytime soon either.

Prices March Upwards

When you combine high buyer demand with low inventory, you inevitably get higher home prices. According to Refin, the average sale price for a Tucson home increased 3.3% from the same time last year. That's great news for sellers looking to cash in on their escrow for a new home.

Interest Rates Remain at Historic Lows

Earlier this month, Freddie Mac announced that interest rates fell below 3% for the first time ever in the almost 50 years they had been keeping track. Even with the slight increase to 3.01% late last week, interest rates remain extremely low. Low interest rates make it cheaper to borrow money. In turn, this spurs buyer interest even more. Again, this makes it a great time for you to sell your Tucson home.

Summer usually signals a busy time for the real estate industry. This year should be no different. If you're interested in selling your Tucson home, contact me. I'd be happy to find a buyer for you.

Rebecca Schulte, Schulte Real Estate Group, Your Source for Tucson Real Estate