If you are considering selling, you’ll wan to DO IT TODAY to take advantage of the current market.
The latest statistics from this year alone, to date, were astounding!
“Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home. Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate…”
– Lawrence Yun, Chief Economist for the National Association of Realtors (NAR)
The housing crisis of the past is finally in dissipating as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up and distressed sales (foreclosures and short sales) are at their lowest mark in almost a decade. This year has been great for real estate and it will continue.
We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house. Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report.
THE PENDING HOME SALES REPORT
The report announced that pending home sales (homes going into contract) are up 2.4% over last year, and have increased year-over-year now for 22 of the last 25 consecutive months. Lawrence Yun, NAR‘s Chief Economist, had this to say:
There has been a lot of talk about the falling homeownership rate in the United States. In December 2004, the percentage of those owning a home reached an all-time high of 69.4%, with the 2015 reported rate at 62.9%. When comparing these 2 figures, there is some room for concern regarding the difference.