What's Coming in the 2nd Quarter?

The news has been all aflutter with scary headlines about the National Association of Realtors lawsuit settlement. But the most important thing to know is that - as of now - nothing has changed. And It will likely not change until the Summer. So if you are even thinking about selling or buying a home this year, here are a few reasons why the Spring market may be the best for you!

 

While inventory is still low, more people are selling their houses. We’ve seen a 15% increase month-over-month. If you’re looking to buy, this gives you more options for your search. If you are planning to sell, this means that competition is starting to heat up, and you may have an easier time selling for top dollar the earlier you list!  

 

Even with that groth, there still aren’t enough homes to go around. That keeps upward pressure on home prices. We are still seeing sale prices rise, even though the rate has slowed down (1.5%) compared to the past few years where prices were skyrocketing. For buyers, this means you won’t be priced out of homes on a moment's notice like you may have just a year ago. And sellers, you can still expect to make the most for your home when marketed properly.

 

Since supply is too low for the number of buyers out there, houses are still selling fast and getting multiple offers. The average Days on Market has actually gone down 8 days month-over-month! This is great news for sellers looking for a quick transaction. But for buyers, it means that you may not have a chance to see that home on your list before it gets snatched up by someone else. So keep your nose to the grindstone if you’re hoping to buy. 

 

So buyers, you may have more options than you have in a while, but you’ll still want to move fast and come in with a strong offer. And sellers, your house should still stand out. It may get multiple offers with your goal price and terms - but only if you prepare and market it properly!

 

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