Okay maybe that headline is a little abravise. 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 Feburary numbers are not in yet, but the Janurary numbers were outstanding!
Lawarence Yun, Cheif 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 challanges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate..."
And CNBC says consumer confidence in the economy is fueling the market.
"U.S home resales surged to a 10-year high in Janurary as buyers shrugged off higher prices and mortgage rates, a sign of growing confidence in the economy"
The only challange 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 that a four-month supply of inventory. This represents a decrease in supply of 7.1% from the same time last year.
Bottom Line
With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Contact me today to see whether that is the case in your neighborhood.
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