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Housing Inventory[/caption]
Every
winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes.
Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!
At the same time, however, housing inventory has dropped dramatically as compared to this time last year.
Trulia reported that
“in Q4 2017, U.S. housing inventory decreased by 10.5%. That is the biggest drop we’ve seen since Q2 2013.”
Here is a chart showing the decrease in housing inventory levels by category:
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Housing Inventory[/caption]
The largest drop in housing inventory was in the starter home category which saw a
19% dip in listings.
Bottom Line
Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2018, now may be the perfect time.
