2016: The Year to Sell Your Home!

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home-sold-sign- winter

New Year, New Resolutions! This year put selling your home at the top of your list. Buyer demand continues to outpace the supply of homes for sale, which is a great thing for sellers! The National Association of REALTORS® (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage:

“While feedback from REALTORS® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.”

What this means for you as a potential seller is a greater market for your home. The latest Existing Home Sales Report shows that there is currently a 5.1-month supply of homes for sale. This remains lower than the 6-month supply benchmark for a normal market and well below November 2014 numbers.

The chart below details the year-over-year inventory shortages experienced in 2015:

2015 Housing Supply

Anything less than a six-month supply is considered a “Seller’s Market”. As you can see, now is the time to sell your home and what better time to cross one of your resolutions off!  Contact one of our Shorewest, REALTORS® today for your selling needs!

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Categories: Home Selling, Real Estate News

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