Nearly every factor that has kept potential sellers from listing a home is improving all the time. More jobs, a growing population, rising rents, additional inventory choices, record-high household net worth, and exceptionally low mortgage rates that are rumored to be rising this year are all contributing to, dare we call it, a robust 2015.
Many people suffering the negative affects of distressed property sales several years ago are now re-entering the market. Their penalty periods are ending, credit is improving and they’re now looking to buy again. In terms of jobs, while the salaries may not always be strong, the job numbers are increasing, therefore improving market confidence. Renters feel the squeeze of ever rising rents, as well, and are more seriously considering the benefits of buying vs. renting while mortgage rates remain at very low levels. The number of distressed properties on the market is steadily decreasing, helping to lift local home prices.
What does this mean to you? NOW is the time to list your property. Contact me. I’d love to help.