With a fresh start this New Year, people often think about their resolutions and how they can be kept. Weight loss, good deeds, saving money, or whatever it may be, sticking to resolutions can be quite the challenge. Most of us quickly begin to lose site of what we hoped would come with the New Year. For instance, how about your home that you’ve been meaning to sell?

The Mortgage Bankers Association predicts that mortgage rates are going to reach nearly 5% by the end of 2015. That said, there are going to be fewer buyers and a lower demand as rates increase. Homeowners are going to face higher interest and mortgage rates as time goes on, so there is no better time to sell and buy than now.

mortgage rates 2015

Image Source: Keeping Current Matters

As it warms up, inventory will increase. There is no surprise that inventory is low at this time of year due to Chicago’s infamous winters. However, these cold winter months could in fact be the perfect time to sell. Inventory is low which means there is less competition in the housing market.

Beat the competition and the higher mortgage and interest rates! If your New Year’s resolution is to move up to your dream home, this can be the time to sell and do so. What are you waiting for?!

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.