People often ask me if now is a good time to sell. The answer is really dependant on personal circumstances, but for the most part right now is the best time to sell that I've seen in the past 5 years.
In the previous two post, I covered the aspects of the shrinking existing inventory and pent up buyer demand is actually spilling over and creating a lack of existing homes on the market.
Today we'll talk a little about a recent KCM blog that outlined why new construction homes will be your new competition. Please see the article here.
Here are a few points from the recent article:
- Single-family authorizations in February were at a rate of 600,000.
- This is 25.5% above February 2012.
HOUSING UNDER CONSTRUCTION
- Single-family housing starts in February were at a rate of 618,000.
- This is 18.5% above February 2012.
- Single-family housing completions in February were at a rate of 574,000.
- This is 32.9% above February 2012.
As we mentioned, new construction can be strong competition to a seller of an existing home. It may make sense to list your home before this new inventory makes its way to market. Give me a call to see if selling now makes sense for you. Thank you, Jerry