Smart Sellers Will List Early This Year

​Appended from DAILY REAL ESTATE NEWS | WEDNESDAY, JANUARY 18, 2017

Are you delaying listing your home until the “traditional selling season” begins? Because sales and prices tend to peak in the spring and summer, it's a common request in many markets.

However, this year is different. Jonathan Smoke, realtor.com®’s chief economist, stresses in his latest column that the conventional wisdom isn't correct this winter.
Here’s why: At the beginning of 2017, inventory levels plunged to multiyear lows. Sellers are currently facing very little competition, he says.

Mixed with that, buyer demand is “abnormally strong for the off-season,” Smoke writes. “The climb in mortgage rates that started in October and accelerated in November and December has created a sense of urgency among buyers.”

With interest rates largely forecasted to move higher this year, buyers are more in a rush to lock in a low rate sooner. Plus, your sellers may have to worry about lending rates as well; Smoke estimates that 85 percent of sellers are planning to buy another home after they sell.
So here’s my best tip for - “If you are thinking of selling and buying in 2017, the early bird may get the worm. And the best new nest.”

​Wondering what your current home value is, you might be surprised. Run over to the listology tab on ProvidencePlantationLiving.com and enter your address to see now.