Studies have shown that some homeowners who want to move say they won’t put their home on the market because they are waiting for the highest possible price. This is the same unwise strategy holders of stocks employ when they say they won’t sell until a stock reaches its highest point. The problem with this approach is no one knows if an investment, home or stock will increase in price and when it will be worth the most. Waiting on the sideline unnecessarily delays a move that these owners want to make. And even if prices are rising, if you are buying a replacement home the price of it will rise also, so although you may get more for your home, you’ll pay more for the next. In any event, in the metro Phoenix market it appears home prices have stabilized, so waiting to sell here makes no sense.
