Just like our clocks this weekend in the majority of the country, the
housing market will soon “spring
forward!” Similar to tension in a spring,
the lack of inventory available for sale in the market right now is what is holding
back the market.
Many potential sellers believe that waiting until Spring is in their best
interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter
months, especially in areas of the country impacted by arctic temperatures and
conditions.
That hasn’t happened this year.
Demand for housing has remained strong as mortgage rates have remained near
historic lows. Even with the recent increase in rates, buyers are still able to
lock in an affordable monthly payment. Many more buyers are jumping off the
fence and into the market to secure a lower rate.
The National Association
of Realtors (NAR) recently reported that the
top10 dates sellers listed their homes in 2017 all fell in April, May, or
June.
Those who act quickly and list now could benefit greatly from additional
exposure to buyers prior to a flood of
more competition coming to market in the next few months.
Bottom Line
If you are planning on selling your home in
2018, let’s get together to evaluate the opportunities in our market.
THE MILITELLO TEAM
(978) 815-3877 - Joseph
(978) 500-1480 - Kathleen
