Will you be selling a home in the spring Market?
Selling in the Spring Market
If you plan on selling your home in the spring market in 2019, it is time to list your home now. While we have not seen the February numbers for the 2019 housing market yet, but the January numbers were down 4% from 2018..
Buyers throughout the country have shown considerable interest in purchasing a new home, due to strong hiring and improved consumer confidence. Additionally, interest rates are lower than in the previous year. However, there are still challenges. However, the housing market is off to a great start despite inadequate inventories of homes. But – we expect that to change, because the people who didn’t sell last year will probably try to sell again. As a result, we expect to see more homes available. And we also expect that the bidding wars will, for the most part, go away. So, if you’re a seller, be prepared to negotiate.
In Monmouth County, resales of existing homes were down 4% in January. And the available inventory was down 9%.
Bottom Line
Due to the low supply and high demand, this should be a great time to get the best price your home that you will see for quite some time. The biggest challenge to the market has been a severe lack of inventory. In a typical balanced market will have a six month supply of homes for sale. However, currently our market has more than a xis month supply, while the average days on market was 60 in January.months supply.