Housing Market Expected to “Spring Forward”
Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!”
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Traditionally, 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.
That has NOT happened this year!
Demand for housing has remained strong over the winter months including right now – today – as mortgage rates have remained near historic lows.
The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2016 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.
Buyers are looking now – there is a nice window to “beat the neighbors to the market” and capitalize on this opportunity.
Bottom Line
If you are planning on selling your home in 2017, let’s get together to evaluate the opportunities in our market.
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Source: Michigan Real Estate Updates