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Housing Market Remains Strong As We Near Winter Months
In real estate, the housing market tends to go up and down in unison with the yearly seasons. The housing market is busiest in the summer when the weather is nicer and many families are on vacation. Housing activity then slows during winter as colder weather and tricky weather conditions keep buyers indoors.
This year, however, the market is still going strong as we near the winter months. Given the crazy year for housing, it’s really no surprise! Month after month, housing activity increased. (In fact, the Pending Home Sale Index, a leading indicator of housing activity, increased for nine straight months and reached its highest level in nine years as of May of this year!)
Many homeowners, who thanks to rising home prices and recovering equity are finally in a position to sell, are taking advantage of the current market conditions to sell their homes. We are still in as seller’s market, with demand for homes far outpacing the number of homes available. These conditions allow sellers to receive top dollar for their homes as buyers compete for the available listings.
Additionally, both home prices and mortgage rates are poised to rise at the end of this year and into 2016, meaning home affordability will suffer. Mortgage rates, which ave remained around 4% this year, are predicted to rise as high as 4.8%. Even small changes in mortgage rates can have dramatic impact on your mortgage payments, meaning you’ll be able to afford more home now than you will be able to next year.
I have a report that explains in further detail why now might be the perfect time to sell your home!
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.