Hurry Up and List Your House TODAY!!
This headline may seem a bit aggressive, however, as data on the 2016 housing market begins to roll in, I can say this: If you are considering selling, IT’S A GOOD TIME TO LIST YOUR HOME!
The May numbers are not in yet, but the April numbers were sensational. Jonathon Smoke, Chief Economist at realtor.com, explained:
“We had a triple crown of April home sales reports, so 2016 is in the pole position to earn best year of home sales in a decade.”
Freddie Mac also expressed optimism regarding home sales for the rest of the summer:
“Home sales typically rise in the spring and summer months, and we anticipate acceleration in home sales that will surpass 2007’s pace by late summer.”
The only challenge to the market is a severe lack of inventory. A balanced market has a six-month supply of homes for sale. Currently, there is less than a five-month inventory supply. This represents a decrease in supply of 3.6% from the same time last year.
Real Estate Bottom Line
With demand for homes to buy increasing and supply of homes for sale decreasing, this may be the perfect time to get the best price for your home. Let’s talk to determine if now is a good time for YOU to sell.