The Time is Now! Really!

 The Time is Now! Really!

I feel like a broken record… and Yet, Month after Month the statistics are saying the same thing….

Inventory is DOWN and Demand is UP!

Here are some important facts from the National Association of Realtors:

• Homes are selling in just 39 Days! This is faster than any month since June 2013!
• Current Inventory is at a 5.3 Months’ Supply; this is down from 5.7 Months’ Supply in April 2014. 6.0 Months is the level necessary for a normal market!
• Median Price of Homes sold is up 8.9% from April 2014. This is the 38^th Consecutive month of year-over-year gains! This is the largest increase since January 2014.
• Distressed sales are down 5%, from 15% in April 2014 to 10% in April 2015.

The continuing lack of inventory did cause a slight slowdown in sales, when you compare April 2015 to March 2015, however, as you can see, current sales are still comfortably above the same time last year.

What does this mean? It means that Buyers are in the market, willing to buy and are having trouble finding their dream home, either because it has not yet been listed, or because the demand is so high that the seller has many buyers to choose from. This is a great position to be in when selling your home, as we’ve discussed in previous blogs.

Additionally home prices are predicted to continue to rise steadily over the next 5 years.  This is even better news if you’re looking to sell your current home and upgrade to a new one. Knowing that the market outlook is high can give you confidence that the investment you are making in a new property will see returns in the near future as well as over the life of your ownership.

The bottom line is that selling now is a good idea and so is stepping up the property ladder to purchase a new home. Call me today for a Complimentary Market Analysis of your home.