The housing market is experiencing a newfound balance that rivals the Greeks in the Golden Age. Economic prosperity, rising home prices, low interest rates and an influx of interested buyers has created a healthy real estate environment. With unemployment predicted to drop even further, the future of home sales looks promising.
While demand continues to increase, supply has dropped. There are not nearly enough homes to keep pace with all of the buyers flooding the market. Too few new homes have been built and far too many homeowners are still skittish about the housing market crisis in previous years. They have not been informed of just how much things have improved!
Usually a 6-month supply represents a healthy balance between supply and demand. Right now housing inventory consistently misses that mark. There are just not enough homes. This gives sellers more power and increases the overall value of homes! That means homes are not only selling quickly, they are also selling for more money.
That increase in value has provided homeowners with equity in their homes for the first time in years. Homeowners now have the option to sell their homes for more than they owe and actually make some money in the process.
Does your home have equity? Even if you have been under water in the past, your circumstances have most likely changed. Just in the past few months alone, the price increases may have affected your home’s value. Now is the perfect time to look into selling your home and moving into a new one.
Economic Health of the US overall
In the first quarter of 2017, the unemployment rate was 4.7%, down from 4.9% in Q1 2016. By the end of this year it is predicted to fall even further to 4.4%. (NAR) More employed citizens means more people can afford to buy a home!
Disposable income in the United States overall rose by .4% in April of 2017 compared to .2% in March of 2017. (BEA) Disposable income experienced 1.6% compound growth between 2012 and 2017. Between 2017 and 2022, this number is expected to rise to 2.9%. (IBIS World)That means that buyers are gaining access to more disposable income to purchase a home with and are predicted to have even more money to spend over the next few years.
The economic outlook definitely aligns with the inundation of interested buyers. Yet, the demand has not been met by the supply of the housing market.
Thinking of Selling Your Home?
Now is the time. The housing market has changed drastically since the recession. No matter what position you found yourself in during recent years, chances are your circumstances have changed. Your home may have increased in value over just in the past few months!
If you are considering listing your home, it is important to act now. Right now prices are perfect, mortgage rates are appealing and finding your new home is a click away.
Get more information about how the current market affects you and why you should consider selling your home by downloading my latest report from my website: http://hosted.cdpe.com/103530
After reading the report, contact me today to discover how much your home is worth!