SELLING OR BUYING – RIGHT TIME IS NOW.

Thinking of Selling? The Market Needs Your Listing!! | Keeping Current Matters

Selling or Buying, the right time is now.

Below are comments from several Market Leaders, all of which say about the same thing – and they are probably all correct.

Message is that housing inventory is tight, which will drive up prices.

Selling or Buying in our areas (Delco, Chesco, Montco) is definitely affected. Overall, all three counties are now in what we call “Sellers’ Markets” because there are more buyers than sellers. That drives prices up.

However, that is not universally true. Some areas are still in buyer market territory (prices going down) or in a balanced market where prices are level.

Your buying, selling or move up plans need to factor in where you want to buy and, if you are thinking of selling, where you live now.

Selling or Buying decisions need to consider that the housing market is really heating up and buyer demand is dramatically increasing as we enter the spring season. However, one challenge to the current market is a major shortage of inventory. Below are a few comments made in the last month by industry experts.

Lawrence Yun, Chief Economist of NAR

“Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau.”

Jonathan Smoke, Chief Economist of Realtor.com

“Low inventories and tight credit will limit the gains we will see in 2016. However, given the level of pent-up demand evident in web activity and stated buyer intentions for 2016, we should see this spring materialize as the busiest season of sales since 2006.”

Rick Sharga, Ten-X’s EVP

“Inventory is too low to support much higher sales. There’s virtually no inventory available at the entry level, and single family housing starts and permits continue to languish at levels far below where they should be at this point of the recovery.”

David Crowe, Chief Economist of the National Assoc. of Home Builders

“Many sellers may not have an absolute decision as to whether to buy an existing home or a new home. So the low inventory of existing homes is locking them in place.”

Freddie Mac

“Challenges remain, with low housing supply and declining affordability being a key concern in many markets.”

Thinking of Buying or Selling, the right time is now.

Below are comments from several Market Leaders, all of which say about the same thing – and they are probably all correct.

Message is that housing inventory is tight, which will drive up prices.

I believe that message also applies to our area (Delco, Chesco, Montco). Overall, all three counties are now in what we call “Sellers’ Markets” because there are more buyers than sellers. That drives prices up.

However, that is not universally true. Some areas are still in buyer market territory (prices going down) or in a balanced market where prices are level.

Your buying, selling or move up plans need to factor in where you want to buy and, if you are thinking of selling, where you live now.

Overall, this is probably the best time to buy that first home or make a move up buy, that any of us will see for the rest of our home buying lifetimes. But, that is not true everyplace.

To understand your personal situation, just call or text to 484-574-4088 and lets talk.

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