A: As 2017 begins, families across the country will be deciding if this is the year they will sell their current house and move into their dream home. Many will decide that it is smarter to wait until the spring “buyers market” to list their house. In the past, that might have made sense. However, this winter is not like recent years.
The recent jump in mortgage rates has forced buyers off the fence and into the market, resulting in incredibly strong demand right now! At the same time, inventory levels of homes have dropped dramatically as compared to this time last year.
Here is information showing the decrease in inventory levels by category:
Q4 2016 compared to Q4 2015
Total Homes available down 9.1%
Starter Homes down 12.1%
Trade-up Homes down 12.9%
Premium Homes down 5.6%
Demand for your home is very strong right now while your competition (other homes for sale) is at historically low levels. If you are thinking of selling in 2017, now may be the time.
Licensed Real Estate Broker