Waiting for a reason to list your home for sale on the market? There are more reasons this year to list your home on the market. If you’ve been following the market, then you know that it is in a slow and modest recover. 2012 was the start of the first signs of improvement that were consistent in years. 2013 has continued that trend, and the market is in an upswing. The Colorado market is becoming a seller’s market, and homes are going fast.
Inventory Supply is Low
For the past five years, Denver, Colorado has always sold about 4K homes per month. Many homeowners faced financial distress sending their properties into foreclosure. In years past, the market has been flooded with foreclosed homes and short sales. In 2012, we saw fewer foreclosed homes on the property, and 2013 is even better. Interest rates are at historic lows, giving buyers more incentive to purchase, now. The economy is more stable, homes are selling faster, and values are going up, and supply in inventory down, which benefits home sellers.
New Construction is Coming Back
For the past several years, the construction industry has been in a slump. In 2012, the industry picked up, and now in 2013 it is even better. With a recovering market, more builders are jumping back in, and home sellers will be more competition with new home construction in the picture- days on the market will increase, and resale pricing will stay down.
Interest Rates Are at Historic Lows
With the economy and housing industry in a slow and modest recovery, interest rates will continue to go up. Now is the ideal time to list your home for sale on the market as more and more home buyers are taking advantage of the low rates before they continue to go up. Since the fall of 2012, interest rates have already gone up, and they are expected to continue to do so.
Conditions are turning to a seller’s market. Home values rising, inventories low, interest rates low, the economy steady, and homes are building equity faster, making now a prime time to list your home for sale.