It’s hard to believe that the housing market turned so
quickly for sellers! We went from bad
news – homes sitting on the market, inventory growing, and prices falling – to
a sellers’ market. That’s right…a
sellers’ market. Now listings are in
short supply, and in some price ranges, sellers are receiving multiple
offers. The dream of homeownership is
back in full force, and there are a lot of buyers ready to buy their piece of
the American dream.
As we look back, we now see that the bottom of the market
was in 2011. Since then, sales have
increased and prices have stabilized. In
some areas, they’re even rising. The
tremendous amount of pent-up demand that grew over the last five years has been
unleashed, and with an improving economy, lower unemployment, and rising rental
rates, the demand for housing has created a backlog of potential purchasers and
a shortage of houses for sale.
So what does this mean for you? Opportunity!
If you’re holding off selling your home now may be the time to rethink this
decision. If you need to sell in order
to buy another home, the same great reasons to buy still apply: an improving economy and real estate market,
current home prices are still affordable and record-low mortgage interest
rates.
Let me know if I can help you evaluate your situation. And please don’t wait too long - many
economists are forecasting a rise in interest rates sooner rather than later
and that means the same dollars will buy less.
Nothing stays the same, and as we have seen change can occur quickly.
Opportunity is knocking;
Let’s answer the door together! I
look forward to speaking with you soon!
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