That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!
The February numbers are not in yet, but the January numbers were sensational. Lawrence Yun,Chief Economist for the National Association of Realtors, said:
“Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home. Market challenges remain, but the housing market is off to a prosperous start as home buyers staved off inventory levels that are far from adequate…”
AndCNBCsays consumer confidence in the economy is fueling the market:
“U.S. home resales surged to a 10-year high in January as buyers shrugged off higher prices and mortgage rates, a sign of growing confidence in the economy.”
The only challenge to the market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is less than a four-month supply of inventory. This represents a decrease in supply of 7.1% from the same time last year.
With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Let’s get together and discuss the inventory levels in your neighborhood to determine your next steps.
Author:Laura Byther Phone: 207-838-9990 Dated: March 8th 2017 Views: 96 About Laura: They say I have been more than a Realtor. I became their friend, always in their corner working for ...
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"Dan and I have enjoyed working with David Marshall on selling our home and buying a new one. David is very knowledgeable, very thorough and persistent when he needs to be. He kept us posted on the many different deadlines and decisions well ahead of time so that we knew what to expect. We've relied on David quite a bit in this process and have recommended him highly to others."