Just like our clocks a few weeks ago, the housing market will soon “spring forward!” Similar to the tension in a typical 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.
We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand.
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. (like Minnesota :))
That hasn’t happened this year. Demand for housing has remained strong and is currently three times stronger than last year at this time. At the same time, the amount of housing inventory coming to the market compared to last year is plummeting:
The National Association of REALTORS (NAR) recently reported that the top 10 dates sellers listed their homes in 2014 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.
What YOU Need To Do!
With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Do you want to find out what your home could sell for right now?
Call, text, or email us today to talk to one of our expert agents and get a free home value report. Contact us NOW! 612-812-9262 or Office@KerbyandCristina.com