Should You Take Advantage of the Housing Marketing to Move Out of California Now? Yes!
During 2022, the housing market across the country has seen home prices skyrocketing. While the overall trend has mellowed somewhat compared to 2021, now is the best time to sell your home to get the top dollar for it if you want to move out of California.
Why Homes Sell for More Now
As in 2021, the housing market is bouncing back after a pause in 2020. People are getting out, changing jobs, or switching to remote work. This shift in lifestyles prompts many to seek new living arrangements. Unfortunately, because home building slowed in 2020, there is not enough of a supply of new homes to meet the high demand. This results in existing homes on the market going up in price. In fact, in 2021, it was not uncommon for buyers to pay several thousand more dollars for a home after getting into a bidding war over a property.
While the situation is not as intense now, home sales are still high, and there remains a high demand for existing homes.
Can You Still Buy a House in Another State?
The best news is that even if home prices are higher than before, by selling your home in California, you will likely have more than enough money to buy a similarly sized or larger home in another state. The difference is in housing costs. California has some of the highest housing costs in the country. Therefore, when you move out of California, you can get a new home for less.
Why You Should Move Out of California Now
The housing market is showing some signs of cooling from its peak in 2021. Therefore, you shouldn’t wait too long to sell your home in California. In fact, if you delay, you could find it difficult to purchase a home in your new state as other buyers move in.