The #1 Reason to List Your House, NOW!
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that sales rose 0.7% month-over-month, but remain 1.5% lower than they were a year ago. Some may look at these numbers and think that now is not a good time to sell their house, but in fact, the opposite is true.
The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! The inventory of homes for sale has fallen year-over-year for the last 28 months and has had an upward impact on home prices.
NAR’s Chief Economist Lawrence Yun had this to say,
“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country.
Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings – especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers.” (emphasis added)
The houses that are on the market are selling fast, too! According to NAR’s Realtors Confidence Index, the median number of days it took for a house to go from listed to under contract over the past three months was 34.
If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market!
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Buyers in the market during the winter months are truly motivated purchasers. They want to buy now.
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In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.”
Prices are appreciating at levels greater than historic norms. However, we are not at the levels that led to the housing bubble and bust.
If your plans for 2018 include putchasing your dream home, let’s get together to discuss your options and to help you make the most powerful and confident decisions for you and your family.
Existing home sales are currently at an annual pace of 5.81 million, the highest pace since December 2006.
Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.
Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.
As we usher in the new year, one thing is for certain…if you plan to buy or sell a house this year, you need a real estate professional on your team!