Market Watch
I have one important message in this month’s Market Watch: If you or someone you know is thinking about selling their house, list it NOW. Seriously, I know that sounds like a Realtor talking but it is also the truth. Let me tell you why.
Combined January and February closed transactions are up 5% from last year and up 17% from 2010. The number of homes currently listed is down 10.1% from last year and down 17.6% from 2010. When sales increase, as they have, and listings decrease, as they have, the month’s supply of homes also decreases. It will then be no surprise that average month’s supply has also declined significantly. The average month’s supply this year is 16.2% less than last year and 30.7% less than 2010. The absolute number of active listings is down over 33% from its peak. If we close the same number of homes this March as we did last year in March and active listings don’t increase we will only have 6.28 month’s supply of homes on the market. The supply of homes has been that low for exactly one month since June of 2006. That was for the month in which the last home buyer tax credit expired, clearly an aberration.
Winter decided to skip us this year. The home buying season has already started. Home affordability (a calculation based on average household income, median home price and mortgage interest rates) is at an all time high. Homes have never been more affordable and there are not too many on the market.
No one has better tools to market your house and FCTuckerEmge.com is the best local website for shoppers in our market. Opportunity is knocking. Call me now and take advantage of today’s housing environment. You can reach me on my cell phone 812-499-9234 or by email Rolando@RolandoTrentini.com
Kathy and I wish you a happy and safe spring season.
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