Just like our clocks this weekend, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right. But this year, Buyer demand’s seasonality naturally means it usually falls off in the winter months.
That hasn’t happened this year.
Demand for housing has remained strong 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. You can see the most recent showing trends linked below and see that 2017 is already moving a little faster than 2016:
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.
If you are planning on selling your home in 2017, let’s get together to evaluate the opportunities in the Denver real estate market.