Thespring and summer months have always been known as a very popular time for homebuyers to startthesearch for their dream home. This year is no different! We all learned in school that when selling anything, you will getthemost money ifthedemand for that item is high andtheinventory of that item is low. It isthewell-knownTheory of Supply & Demand. If you are thinking of selling your home, here are two graphs that strongly suggest thatthetime is now. Here is why…
According to research attheNational Association of Realtors (NAR), buyer activity this year has far outpacedthesame months in 2014. Purchasers who are ready, willing and able to buy are inthemarket at great numbers.According toNAR,“Foot Traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months intothefuture.”
Themost recentExisting Home Sales ReportfromNARrevealed thatthecurrent supply of housing inventory is at a 5.1 month supply, which remains belowthe6-months necessary for a normal market.
Buyer demand is far outpacingthesupply of homes available for sale.
Listing your house for sale when demand is high and supply is low will guaranteetheoffers made will truly reflectthetrue value of your property.
Report by Ricky KhamisRealtor Report2016 Best Year for Housing in a De
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