This month, we welcome Spring, and hopefully some well-deserved warmer weather. Spring certainly makes us want to clean out, air out and sanitize our homes. If you are thinking about listing your home for sale this spring, it’s also the perfect time to get organized.
Recently, REALTOR released its Inventory Data for January. You can see from the graph pictured below that inventory was at its lowest historically as it has been in the past 5 years.
Lawrence Yun, Chief Economic Officer for the National Association of Realtors, “ The inventory of homes on the market remains woefully low and in fact is currently at an all-time low.” This strong seller’s market can offer competitive offers and negotiations on contract terms, such as appraisal gaps, flexible closing dates or waiving home inspection. If you are interested in learning more about this process, just reply back to this email.
If you are a move-up buyer or a down-sizer, this may sound scary. What if you don’t find the next home or get outbid? I work with these common concerns every day with my clients. There are options available. If you have a question about it, let’s talk.
Whether you are in the market to buy or sell, or both, we don’t have a crystal ball and can’t predict the future. The current housing market, inflation and the current world events make it difficult to predict what the housing market has in store. What I do know is that interest rates are still low and the millennial buyer made up 37% of all home sales in 2020. With many millennials losing out in competing bids, they are still awaiting their next home
