Many homeowners are on the fence about selling their homes in 2018. The current market conditions could be enough to sway you.
Every winter, families across the country decide whether or not this is the year that they sell their current house and move into their dream home. Mortgage rates hovered right around 4% for all of 2017, which forced many buyers off the fence and into the market, resulting in our current strong demand.
At the same time, inventory has dropped dramatically compared to the same time last year. Trulia reported that in the fourth quarter of 2017, inventory decreased by 10.5%, the biggest drop we’ve seen since the second quarter of 2013.
As you’ve heard in my previous market updates, we have seen a continuous decrease in our housing inventory over time. If you’re a seller, this means that demand for your home will be very high and the competition will be low. This is a winning combination. However, things will change as the spring market gets into full swing.
With less than three months of available inventory, we are still in a strong seller’s market. Therefore, right now is a great time to get your home sold.
Buyers can still succeed in the market, though. If you’re looking to purchase a home, make sure you’re working with a specialist who can help you put forward a strong offer.
If you have any other questions, would like more information, or want to talk about your real estate plans for 2018, feel free to give us a call or send us an email. We look forward to hearing from you soon.