Thinking of Selling? Do It Today!

That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

January and February numbers numbers were, in one word, sensational. Lawrence Yun, Chief Economist for the National Association of Realtors, said:  “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…”

And CNBC says consumer confidence in the economy is fueling the market:  “U.S. home resales surged to a 10-year high in January 2017 as buyers shrugged off higher prices and mortgage rates, a sign of growing confidence in the economy.”  The only challenge to the market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is less than a four-month supply of inventory nationally. This represents a decrease in supply of 7.1% from the same time last year.

This inventory supply is even lower in the Dallas area because of our economic and job growth sectors…so many people are wanting to move into this area and there are just not enough home options for them. What does this mean? Well, one of my listings this month didn’t just have “multiple offers” – it had 20!  This is what we’re seeing for well-priced home listings in the Dallas area, at least those in the $300,000 and less categories.

Bottom Line

With demand increasing and supply dropping, this may be the perfect time to get the best price for your home for years to come. Let’s get together and discuss the inventory levels in your neighborhood to determine your next steps!

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