March 6, 2017 | Morgan Wigden
      Demand has pushed the spring selling season earlier, as buyers hope to beat the competition and secure a house early on.  According toRealtor.com, the median age of property listings over the winter was four days fewer than last year.  Despite the typical seasonal slowdown,inventory is picking up speed for this time of year. Median list price typically reaches its lowest point mid-winter as well, but it remained level at $250,000, indicating that buyers are remaining persistent. Buyers may also be reacting to mortgage rates, which rapidly climbed higher following the election,  pushing buyers to secure a loan as soon as possible. This is also a sign of continuing low inventory, which is creating higher home prices and shorter turnarounds for sales.  All signs point to this season shaping up to be a seller’s market.
Share

check_circle

You message has been sent!

Send us a Message


You agree to receive automated promotional messages from Hughes Residential brokered by eXp Realty regarding real estate information and education.Click here for terms and privacy policy. Message frequency varies. To opt out of receiving messages from me, text STOP to cancel. Reply HELP for help. Message and data rates may apply.