Demand for Homes for Sale

Every summer, families around the country decide if this will be the year they sell their current house and move into their dream home.

Mortgage rates have hovered around 4% in 2017, forcing buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.

Trulia reports “U.S. home inventory has tumbled 8.9% over the past year and has now fallen for nine consecutive quarters.” There is now 20% less inventory than 5 years ago.

Take a look at the decrease in inventory levels by category:

Real Estate Bottom Line

Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the perfect time.