Time To Sell?
Sell NOW Before You Have Competition
In the Home Price Expectation Survey released last week, Pulsenomics asked 100+ economists, real estate experts and investment & market strategists the following question:
“In your opinion, what is the primary driver of recent home value growth in the U.S.?”
Here are the top four reasons:
The current lack of inventory in most housing markets has caused home appreciation to increase at greater percentages than historical averages. This means it is a great time to sell your home as supply is low and demand is high.
However, things may be about to change –
The fortuitous situation sellers see themselves in may soon change for 3 reasons:
- As more homeowners realize their equity situation has dramatically improved over the last four years, more will likely to put their homes on the market.
- With the residential real estate sector outperforming a sluggish economy, more home builders will be looking to add new construction inventory to a depleted supply of housing stock.
- Many banks are just now foreclosing on loans that have been delinquent since the housing bust. These houses will soon come to market.
According to Daren Blomquist, senior vice president of RealtyTrac, in the Q2 2016 U.S. Residential Property Vacancy and Zombie Foreclosure Report:
“Lenders have been taking advantage of the strong seller’s market to dispose of lingering foreclosure inventory.”
Real Estate Bottom Line
You may not want to wait for this additional competition to hit the market. If you are thinking about selling your house, now may be the time.