We have previously talked about the diminishing supply of housing inventory and how it is impacting the real estate market. The situation might be about to change dramatically according to a recent survey by Lending Tree.
The survey revealed three interesting findings. Of those surveyed:
71% of homeowners are considering selling their home in the next 12 months!
While we realize that 70% of the housing inventory in this country could never be turned over in a year, it is interesting that people are again thinking about moving. There has been a pent-up selling demand over the last few years because families lost both equity in their homes and confidence in the economy. Rising prices have returned equity to many and an improving economy is again rebuilding consumer confidence.
by The KCM Crew
Bottom LineCall Ron 407-222-7022 to sell your home or to buy your new home! www.YourCornerstoneRealEstate.com
The housing market has changed a lot in the past 18 months. People are surprised to learn we have gone from a buyers market to a sellers market. A shrinking home inventory and a strong demand has created a buying frenzy. The median price of existing homes sold in Orlando during the month of March jumped more than 20 percent over March of last year, caused in part by a nearly 50 percent increase in the number of non-distressed "normal” home sales, reports the Orlando Regional REALTOR® Association.
With Interest rates and home prices on the rise this just might be the right time to get off the fence and achieve your dream of home ownership while interest rates are still at historic lows under 4%. If you are a home owner that has been waiting for the housing market to rebound now is a great time to sell. With the shortage of current home inventory, homes are selling quickly, and for top dollar. Please contact us to help make your real estate goals a reality!
Cornerstone Real Estate