Neighbor News
Now's the Time to Sell Your House
It's hard to know when to sell your house. Find out why buyer's are searching for your home from Re/Max Agent Sheryl Petrashek.
NOW’S THE TIME TO SELL YOUR HOUSE, HERE’S WHY!
It’s hard to know when’s the right time to sell your house. This year is projected to be a good year to sell your home according to recent trends. This seems especially relevant in Apple Valley, Lakeville, Burnsville, Rosemount, and Farmington cities in Minnesota.
The most recent Pending Homes Sales Index from the National Association of Realtors revealed a slight bump in contracts with an increase of 1.6% in December. This news comes as existing home sales are also forecasted to be on pace for 5.54 million in 2017, a 1.7% increase over 2016, which was the best year for sales in a decade.
The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed.
According to NAR’s Chief Economist, Lawrence Yun,
“Pending sales bounded last month as enough buyers fended off rising mortgage rates and alarmingly low inventory levels to sign a contract.”
SO, WHAT’S THE PROBLEM?
Find out what's happening in Apple Valley-Rosemountfor free with the latest updates from Patch.
Buyers are searching for existing homes, but supply is not keeping up with their demand!
Yun went on to explain,
“The main storyline in the early months of 2017 will be if supply can meaningfully increase to keep price growth at a moderate enough level for households to absorb higher borrowing cost. Sales will struggle to build on last year’s strong pace if inventory conditions don’t improve.” (emphasis added)
BOTTOM LINE
Buyers are out in force right now! If you are considering selling your home this year, the early months of 2017 will be your best option. Let’s get together to discuss how you can capitalize on current market conditions and get your home listed this spring.
Find out what's happening in Apple Valley-Rosemountfor free with the latest updates from Patch.
Feel free to contact your Apple Valley Realtor Sheryl Petrashek @ (612) 889-6496 or sherylpetrashek@gmail.com to find out how to get your home listed. Also visit www.sellingsouthoftheriver.com for recent blog posts and current listings relevant to you.
Is Spring The Best Time To Sell?
What “Working with a Realtor” Means
Sheryl’s On-site Property Evaluation
