U.S. Housing Hist New Low!
Every summer, families across 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% for all of 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 reported that “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 there was five years ago.
Here is a chart showing the decrease in inventory levels by category:
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.
Have questions about real estate you want answered? Even if you aren’t planning to buy or sell for years, I hope you’ll feel comfortable calling me to talk about your unique real estate situation. I’d love the opportunity to become your agent long before you actually need one. ~ Lynda Van Wie (www.vanwierealestategroup.com)