Selling Your Home When Inventory is Low

Now May Be Prime Time to Sell Your HomeIf there is even a slight chance you may want to sell your home, now is the time to act!

Housing has definitely shifted to a seller’s market, with inventory at a 13 year low. The National Association of Realtors (NAR) reports the January Pending Home Sales Index as being at 105.9% which is the highest rate for contracts (not closings) in years, meaning that homes that are available are being sold quickly.

According to NAR Chief Economist Lawrence Yun, home pricing will likely be on the upswing as less homes are on the market. “Over the near term, rising contract activity means higher home sales, but total sales for the year are expected to rise less than in 2012,” he said. “While home prices are projected to rise more strongly because of inventory shortages,” Yun concluded.

Throughout the United States pending sales have increased, with the largest gains seen in the Northeast and Midwest. Moderate increases in pending sales occurred in the South and the West has stayed pretty much the same in the last month.

On the San Mateo County Peninsula, we are  starting to see an increasing number of multiple offers, in one instance that we participated in,  their were 49 offers made on a single family home.

Over five million homes are expected to be sold in 2013. Will your home be one of them? To find our more about how to start the process of selling your home, please contact us at info@wilkasgroup.com , we are your local experts in real estate.

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. All real estate listings in the MLSListings MLS system are marked with the MLSListings Internet Data Exchange icon (a stylized house inside a circle), and detailed information about them includes the names of the listing brokers and listing agents.

 

Listing information is deemed reliable, but not guaranteed. Listings last updated 4/16/14 9:07 AM PDT.

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