Is now a good time to sell a home? A financial expert provides information.

Is now a good time to sell a home? A financial expert provides information.

According to a report by www.swr.de, it may not be the best time to sell a home right now. According to Christoph Mautes, an expert in the real estate market, prices for used properties have fallen noticeably over the last five years. The German Real Estate Association does not expect a significant recovery in the market in the foreseeable future, at least not for a good year and only if interest rates fall again. In addition, offers for single-family homes are likely to increase while demand stagnates or even declines. This could lead to further pressure on prices, although they have fallen but are still at high levels.

According to Mautes, location, location and location are the most important factor in the price of a property. The price differences are large, especially between expensive cities like Mainz and cheaper areas like Pirmasens, Zell an der Mosel or Idar-Oberstein. However, there are currently uncertainties and comparatively high interest rates that will not change quickly. This could deter potential buyers, as financing single-family homes through loans currently involves significantly higher interest costs than a few years ago. In addition, many existing properties are far removed from today's energy standards, which entails potential additional costs for energy-saving renovations.

Overall, the current state of the real estate market could result in sellers continuing to encounter more stagnant or even falling prices, while potential buyers face uncertainty and higher costs. This could lead to a prolonged dip in the used property market until the market recovers significantly.