Just like our clocks overnight Saturday, our local housing market will soon “Spring Forward”!  Similar to the tension in a spring, the lack of inventory available in our area has been holding back our local market.  

Many potential sellers in our area believe that waiting until spring is in their best interest.  Years ago this would have been the case but buyer demand doesn’t have as much seasonality to it as it did 20 to 30 years ago in our area.

In today’s market in our area, demand for housing has remained strong this winter as mortgage rate took an unexpected dip in late fall and have remained near historic lows.  Even with an increase in rates forecasted for 2019, buyers are still able to lock in an affordable monthly payment. Right now, in our area, buyers are increasingly jumping off the fence and into the market to secure a lower rate.

The National Association of Realtors recently reported that in 2018 the top 10 dates sellers listed their homes all fell in April, May or June.  Those who act quickly and list now, before a flood of increased competition in the spring, will benefit from additional exposure to buyers.

So, if you are planning on selling your home in 2019, it probably makes sense to do so now rather than waiting until the "flood of homes" come on the market this spring.  If you would like to talk more about the best time to sell or buy a home for your personal situation, feel free to reach out to me.