Still on the fence about whether to put your house on the market and finally buy that move up home? Maybe it's your turn to jump for joy, because all of the signs and statistics are encouraging and you can trust the equity gains and stability that have returned to the real estate market.
The demand for starter homes is and has been intense for more than a year now. First time buyers may be more demanding than in the past in terms of some desired upgrades, but starter homes are still their number one choice for a first house.
Even more good news for a home seller who enters this market is that average market time for existing homes sales across Colorado is just 34 days in most price points and prices, while climbing, have not putthe purchase of a home out of reach for the majority of those whose preference is to own their home.
Our Colorado real estate market is flooded with ready, willing and able buyers!
Still not convinced a move up is your next best move?
Lawrence Yun, Chief Economist for the National Association of Realtors had only reassuring words for our marketplace, declaring “the early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home last month.”
In fact, finding available properties is the main deterrent to the determined buyer from closing on a home.
The same low mortgage interest rates and affordable prices that are driving the first time starter home market are ready for the domino effect to affect the secondary housing market.
Recent inventory increases of nearly 6% have only served to encourage even more buyers into this market, and the need for greater inventory goes unabated.
April sales statistics support a continuing rosy outlook for May sales prospects. The time to jump off the fence and into your next home is now. Your local RE/MAX Alliance Associate will provide the market data you need to make your move.