How Much is Your Property Worth?
Property values have been increasing and they may not be a better time to sell than now. A few reasons to think about selling today.
Demand is Stronger
When selling property, owners can only hope there is a strong demand for what they are selling. The great news for today’s sellers is that the current market is experiencing a stronger demand than we have seen in some time.
Supply is Low
A seller’s ability to sell their property in today’s real estate market will be determined by both the supply and the demand for that property. In real estate, supply is represented by the current month’s supply for sale (the number of properties for sale divided by the number of properties sold in the previous month).
New Construction Competition
Over the last several years, most homeowners selling their property did not have to compete with a new construction project. As the market is recovering, more and more builders are jumping back in. The National Association of Realtors expect new home sales to soar through 2018. Sales of brand-new homes, which builders can’t seem to put up fast enough are expected to jump 10.7%, from 560,000 in 2016 to 620,000 in 2017, according to NAR. They’re expected to rise an additional 8% in 2018, to 670,000 sales..
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By Lynette Foulger
Prepare to be moved…