TheNational Association of Realtors(NAR) released the results of their latestExisting Home Sales Reportwhich revealed that sales rose 0.7% month-over-month, but remain 1.5% lower than they were a year ago. Some may look at these numbers and think that now is not a good time to sell their house, but in fact, the opposite is true.
The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! The inventory of homes for sale has fallen year-over-year for the last 28 months and has had an upward impact on home prices.
NAR’s Chief EconomistLawrence Yun had this to say,
“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country.
Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings– especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers.” (emphasis added)
The houses that are on the market are selling fast, too! According to NAR’sRealtors Confidence Index,the median number of days it took for a house to go from listed to under contract over the past three months was 34.
If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market!
Author:Heather F Davidson Phone: 609-209-7581 Dated: October 31st 2017 Views: 89 About Heather: I'm an agent whose business is built on the promise of exceptional customer service. If you are sel...
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I'm an agent whose business is built on the promise of exceptional customer service. If you are selling your home or searching for that special place to call your own, you deserve to work with someone you trust-someone who you know has your best interests in mind. Whatever your particular Real Estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.
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