Yes, home prices are increasing, but that isn’t slowing down the purchase market. Homeowners are finding that because of the competitive market, now may be the best time to sell their homes.
According to Fannie Mae’s National Housing Survey, 61% of those surveyed believe now is an optimal time to sell a home; there hasn’t been a higher percentage since Fannie Mae’s first housing survey in 2010.
Of course, the demand and limited supply of housing does create one big obstacle for those wanting to sell their current homes; they must also compete for a new home to purchase at a reasonable price.
If you have found a home that you want to purchase, a high demand market will work in your favor when you sell as homes are selling faster than owners can place signs in their yards. However, that also means you must act fast too.
As the economy continues to stabilize and salaries increase across the nation, we are seeing a lot of activity in the housing industry and that is great for business!