Though the real estate market has improved, we still have one item holding it back from a full recovery – a robust supply of homes for sale. Demand hasincreased dramatically. At the same time, housing inventoryis decreasingespecially at the lower price points. TheNational Association of Realtors(NAR) recently revealed that there is apent-up seller demandcaused by the uncertainty created by the housing crisis of the last decade.
What does that mean to you?
Houses listed today sell quickly. With prices stillbelow peakvalues of 2007 in many parts of the country and mortgage interestrates at historic lows, this may be the perfect time for your family to make the move to the dream house you always wanted – whether that’s a larger home or that vacation/retirement home you have been looking at.
What does that mean to the economy?
Housing has always been an essential part of the U.S. economy. As we havereportedbefore, real estate not only provides housing for families. It is often the greatest source of wealth and savings for many. The recent increase in real estate sales has led to an increase in real estate prices. This has increased the value of everyone’s' home, whether they are selling or not. This leads to an increase in consumer confidence which in turn leads to an increase in consumer spending. Plus, each home sale automatically puts money into the economy. NAR compiled data from research conducted by theBureau of Economic Analysis & Macroeconomic Advisorson the economic impact of a home purchase. After reviewing thedata, they concluded that the total economic impact of a typical home sale in the United States is an astonishing $52,205.The more homes that sell, the better the economy.
In order for the U.S. economy to get better, we need to sell more homes. Perhaps, it makes sense for one of those homes to be yours. If you have considered selling but are still a little nervous, now might be the time to sit down with a real estate professional familiar with your market and see what your options truly are.
Author:Dawn Borkowski Phone: 864-313-4608 Dated: April 21st 2015 Views: 477 About Dawn: ...
With approximately 50 years combined experience, Guest Group brings a wealth of varied experience in both Residential and Commercial Real Estate.
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"Kim Guest is an amazing agent. She was patient with me while purchasing my home after my husband passed away. She had to show me several homes and at that time I was very hard to please, showing me homes in evenings and weekends. Kim is a very passionate and knowledgeable agent. She worked very hard on getting me the home I wanted and seen me through my closing. Since I want to sell my home now Kim is the agent I turned to for that. She is my RE agent for life.