Every winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes.
That means YES, it’s time to say YES, to Listing your home – whether you are ready to move up to the next size home or downsize to a smaller more easy to manage home.
What does this mean? For a Seller, it at the starter to middle price point, your home will sell fast – our inventory is in very short supply — of course, that means you still need to price it at a reasonable market price. For a Buyer, you want to say YES, because interest rates will be going up probably by a percentage point by the end of 2018 — that means you will qualify for 10% less purchasing power. So if you are looking at $400,000 homes, you are now looking at $360,000 homes — that is a big difference. Below is a great article I wanted to share with you from Keeping Current Matters on Housing Inventory. Enjoy.
Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!
At the same time, however, inventory levels of homes for sale have dropped dramatically as compared to this time last year.
Trulia reported that “in Q4 2017, U.S. home inventory decreased by 10.5%. That is the biggest drop we’ve seen since Q2 2013.”
Here is a chart showing the decrease in inventory levels by category:
U.S. Housing Inventory Crunch Continues… List Your House Today! | Keeping Current Matters The largest drop in inventory was in the starter home category which saw a 19% dip in listings.
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 2018, now may be the perfect time.
I would love to help you — even if you don’t live in Fort Lauderdale, I can help you find the Perfect Realtor and send you a copy of my book ‘How to Sell Your Home for Top Dollar‘ and email me at Debbie@FloridaLuxuryHomesGroup.com email and text or call number.