Should You List Your Home This Spring? 3 Pros and Cons

Is selling this spring a smart move? Here's what you need to know.

If you've been wanting to sell your home but have held off due to pandemic-related or economic concerns, it may be time to move forward. While the pandemic clearly isn't over, health experts seem optimistic we're getting to a place where we can coexist with COVID-19. And while inflation may be hurting a lot of people financially, the U.S. economy is in good shape from an unemployment standpoint.

But is it smart to gear up to list your home in the spring? Though spring is a popular time for home listings, there are benefits and drawbacks to going this route. Here are a few to consider.

Pro No. 1: Buyer demand is strong

There's been a shortage of housing inventory for well over a year now, and that's made buyers even more desperate to scoop up properties once they hit the real estate market. If you list your home this spring, you may find that buyers are quick to bite -- and offer you a decent sum of money for your home.

Pro No. 2: Mortgage rates are still competitive

Although mortgage rates are higher right now than they were at any point in 2021, they're still pretty attractive from a historical perspective. But we don't know whether rates will climb in the course of the year. And buyers may be eager to sign mortgages in the near term, before rates potentially go higher.

Pro No. 3: It's a good time to show off curb appeal

If you've put a lot of effort into landscaping and other exterior features, spring is a great time to highlight that. The better a first impression you make on prospective buyers, the more likely you'll be to not only get a quick offer on your home, but a generous one.

Con No. 1: You may see more competition

Since spring is such a popular time to list a home, you may face more local competition. Granted, that may not be a huge issue this year given the housing market is generally starved for inventory. But it's still something to consider.

Con No. 2: Higher mortgage rates could spook buyers

Mortgage rates have risen substantially since the start of 2022. While they could continue to rise, they might also creep back downward -- we just can't say for sure. If you list your home this spring, you may find that some buyers are hesitant to move forward because they're holding out to see if mortgage rates dip down toward 2021 levels.

Con No. 3: You won't have much time to improve your exterior

If the outside of your home needs work, listing this spring could mean leaving yourself little time to get the job done. Certain projects can't be done in cold temperatures. And even those that can be done during the winter may end up being extremely unpleasant if you tackle them in March, before the weather warms. You'll need to think about whether that stress and time crunch is really worth it.

Listing your home this spring could end up being a wise choice. But it could also end up being a decision you regret. Consider the pros and cons carefully before making your final call.