If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.
Jonathan Smoke,Chief Economist atrealtor.com, revealed in a recent articlethat:
“The biggest challenge to buyers this spring will be simply finding a home to buy and getting it successfully under contract. That’s because the supply of homes for sale is at an all-time low, and yet demand is strong and getting stronger.”
Smoke goes on to say:
“We started the year with the lowest inventory of homes available for sale that we’ve ever seen on realtor.com. While we did see inventory grow 2% in February, total inventory was down 11% over last year.”
In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.
As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.
Author:Pamela Greene Phone: 623-512-6585 Dated: April 25th 2017 Views: 388 About Pamela: ...
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"I would only use Jessica if you would like to BEST Professional Real Estate Agent representing your home, whether you are purchasing or selling. She helped us purchase our home 4 years ago and most recently helped us with the sell of my Father-In-Law's home. Her experience and expertise with horse property along with the best marketing program resulted in a very, very quick sale. She made sure the Buyer and her Agent were always in communication and very responsive during the negotiations, offer and closing. Looking forward to working with Jessica in the future and you should to."