Housing Market Holds Steady As Summer Winds Down

Dated: 09/15/2016

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Each year, the housing market heats up over summer and cools over winter.  Over summer, nicer weather brings many buyers out to look for homes, and many families are on vacation, giving them the time they need to move. So generally speaking, more homes sell over summer than in any other season.

This year, the market has been especially hot, and it’s hardly slowing despite summer winding down! Month after month, housing activity increased. In fact, for most of the summer, home sales have maintained their highest annual pace since February 2007, according to the National Association of Realtors![1]

This summer’s streak of impressive home sales tops off several years of recovery in the housing market. Home prices have skyrocketed, restoring much of the equity homeowners lost when the housing market crashed. Yet despite improving conditions, many homeowners still aren’t aware of just how much things have improved.

However, home prices have roared back. In fact, if you look at Freddie Mac’s Home Price Index, you can see home prices are at or near the pre-2008 peak levels across much of the country. And most states that aren’t yet at pre-2009 peaks are quickly nearing them!

What’s more, the record home sale rates we’re seeing are happening in spite of stubborn imbalances in supply and demand. For the last couple years, we’ve been in a strong Seller’s Market, meaning that there simply aren’t enough homes to meet the rising demand. Sellers are having an easier time selling their homes and are getting more in today’s market!

Have you been waiting to sell your home until the market improved? Now might be the perfect time! I have a report that explains why the current market conditions make now an excellent time to sell.  

You can download the report from my website: http://hosted.cdpe.com/103530. After reading the report, contact me today to see what your home is worth.

[1] http://www.realtor.org/news-releases/2016/07/existing-home-sales-ascend-again-in-june-first-time-buyers-provide-spark

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