Have you been “waiting” for the real estate market to take a turn? Well, in case you haven’t already heard, there has definitely been a shift in the market! Due to a significant decline in inventory, home prices have started to rise, creating a robust “seller’s market” in many areas. (And continued historically low interest rates are still of great benefit to buyers!) The following graph contains comparison data for single family home sales in December, 2012 vs. December, 2011 further illustrating this point:(Data courtesy of NWMLS; Photo courtesy of the Seattle Times)
If you have even been considering selling your home, now may be the right time to do it. Not sure if you can afford to sell based on your current equity position? Curious about what the market is like in your local neighborhood? Drop me a line, and we’ll talk!