Thinking About Selling Your Boise Home?

By
Real Estate Agent with Realty One Group Professionals Lic SP41175

Thinking About Selling Your Boise Home? Now Maybe the Best Time to Sell

The Boise real estate market and in most other states has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019, according to Freddie Mac, was 3.94%. Today that rate is closer to 3.5%.

The Census Bureau also just reported the highest homeownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives.

According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is strong. That’s not the case, however, with seller demand, which remains weak throughout most of the nation. Here’s a breakdown by state:

Home seller traffic

Demand for homes for sale, including here locally in Boise, is high, but real estate supply is very low. NAR also just reported that the actual number of homes listed for sale is 1.42 million, which is one of the lowest totals in almost 30 years. Also, the ratio of homes for sale to the number purchased currently stands at just 3.1 months of inventory. In a normal market, that number would be nearly double that at 6.0 months of inventory.

What does this mean for buyers and sellers?
Buyers need to remain patient in the search process. At the same time, buyers must be ready to act immediately once they find the right home.

Search Boise Homes For Sale

Sellers may not want to wait until spring to put their houses on the market. With demand so high and supply so low, now is the perfect time to sell your house for the greatest dollar value and the least hassle. Contact us for a no free consultation and to find out what your home is worth in this market.  Call (208)918-5007 today or visit www.BoiseHomeValuesOnline.com to get a free report.

What's My Home Worth?

Bottom Line
The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.

 

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Realty ONE Group Professionals - Krystyna M Ryan - Your Local Boise Expert (208)918-5007 

great Boise Idaho homes

 

 

 

 

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