Sell now or wait?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The recent upward shift in home prices is causing some ambivalent homeowners to seriously consider selling. A common dilemma is when to sell. Is the recent uptick in the market a blip or the beginning of a trend? Should you sell this year or next or perhaps even years from now? After declining every month for nearly three years, the Standard & Poor's/Case-Shiller 10-City Composite Price Index for the U.S. rose 3.6 percent between April and July following a 4.8 percent decline for January to April. This represents a big and sudden change -- probably due to near-record-low interest rates, the $8,000 first-time homebuyer tax credit, and a change in buyer psychology. However, even though home prices moved in a positive direction, they are still much lower than they were a year ago. One of the key factors affecting increased sales activity is improved affordability. Lower prices and interest rates are motivating buyers to commit to a purchase. The magnitude of price changes ...