PUT MY HOME ON THE MARKET NOW? BUT IT’S AUGUST!
Most sellers think that spring is the prime season to put their home on the market. While spring does have a reputation for being the peak time to showcase a home and visit as many open houses as possible, in this market, any time is really the right time.
Yes, it’s hot outside, but so is the current real estate market. There are buyers scrambling to make it into their dream home before the full swing of fall. Real estate sales have been incredibly robust. According to the National Association of Realtors® (NAR), existing home sales increased for the fourth consecutive month in June, 3 percent higher when compared to last June and remain at their highest annual pace since February 2007.
NAR attributes this growth in home sales to a boon of first-time buyers not seen in nearly four years, attracted by lower interest rates and newer inventory, and driven by sustained job growth. Sellers are benefitting right now from this powerful demand for housing. According to NAR, 48 percent of the homes that sold in June were on the market for less than a month.
Although there is still a need for housing inventory, seller confidence appears to be on the rise. As reported by NAR, a recent survey reported that 52 percent of American homeowners say now is a good time to sell a home in their neighborhood, up from 34 percent in 2015!
How hot is your housing market this summer? See local statistics here, or contact an affiliated Coldwell Banker Residential Brokerage sales professional to obtain a clear picture of the market in communities that interest you the most. Don’t let the rest of the summer opportunities in your market slip away! Call today!