Indeed, there are many reasons to list your house for sale this time of the year. Surprisingly,over the winter months, the real estate market did not slow down this year. Above all, properties are selling quickly. Undeniably, the buyers are out in force, and the housing supply is still at a historically low level.
Housing Market is Strong
To explain what is going on in the market, an article in KeepingCurrentMatters.com recently discussed housing. “The success of the U.S. residential real estate market, like any other market, is determined by supply and demand. They looked at the number of potential purchasers that are in the market versus the number of houses that are available to buy. With new 2020 housing data now rolling in, it’s quite evident two big stories are impacting this year’s residential real estate market:
1. Buyer demand is already extremely strong
2. Housing supply is at a historically low level
Also, Move.com also just released information indicating that the number of homes currently for sale has declined rapidly and now sits at the lowest level in almost a decade. Then they explained,
“National housing inventory declined 13.6 percent in January, the steepest year-over-year decrease in more than four years, pushing the supply of for-sale homes in the U.S. to its lowest level since realtor.com began tracking the data in 2012.”