I get a lot of common questions about the real estate market in the wintertime, so I wanted to address them for you in episode two.
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With winter approaching, let me welcome you to episode two. I’ve been getting a lot of questions about the market; does it favor buyers or sellers, what’s happening with interest rates, and what’s going on in general?
I recently saw that inventory here in Columbia is about five months. They say a balanced level of inventory is about six months, so I think we’re edging toward a seller’s market. Prices are moving up, and this is good news for sellers. In fact, prices have gone up every year since 2011.
I recently saw that inventory here in Columbia is about five months. They say a balanced level of inventory is about six months, so I think we’re edging toward a seller’s market. Prices are moving up, and this is good news for sellers. In fact, prices have gone up every year since 2011.
Prices are moving up, and this is
good news for sellers.
”
good news for sellers.
As for interest rates, we all know that we just finished a crazy election, so there is some uncertainty out there. Rates moved up to about 4% for a 30-year conventional mortgage. If you’re looking for more specific details on home loans, we have preferred lenders that we’d be happy to refer to you.
Many have asked me lately whether now is a good time to sell a house, or whether you should wait until the spring. There are pros and cons to listing now, but if you do, you’ll face far less competition than you would in the spring. The only wrong answer is that now is the ‘wrong time’ to sell, because we’re busy all year round. We don’t take the holidays off like many other agents.
If you have any more questions about the market, don’t hesitate to give us a call or email us. We’d be happy to help you out.
