There is a good chance you've been hearing about how hot the real estate market is. Like many homeowners, you might be considering a move but you've been waiting for the right time. As a Realtor, I'm thrilled to report a positive outlook for those who are thinking about selling.
Below are statistics that indicate it may be a seller's market.
- According to the National Association of Realtors, inventory of available homes has decreased 11.1% from December 2016 to December 2017. In December of 2017, there was a 3.2 month supply of homes, this is well below the 6 month supply that many real estate professionals consider normal, fewer homes for sale generally indicates a seller's market.
- The number of homes sold according to the National Association of Realtors was 0.8 percent lower in December 2017 compared to December 2016. This slight decrease in the number of homes sold nationally is believed to be a result of the limited number of homes available for sale.
- Additionally, the National Associations of Realtors reported that single-family home prices nationwide have risen 7.3% from December 2016 to December 2017.