As I see friends, neighbors and family this holiday season the question that is always asked is, “You must be enjoying some time off now that the holidays are here.” Nothing could be further from the truth. I am busier now than I have been all year.
We started 2019 with the worst first quarter that I have ever experienced. The second and third quarters were normal compared to historic levels and this fourth quarter is blowing the roof off. The Buyers are out there seriously trying to find their “forever homes”. Inventory levels have been at historic lows. We were off year over year 40% in available homes for sale with buyers encountering bidding wars in most price segments. Many of these buyers are still out there desperately trying to find a suitable home.
On the Listing Side, Sellers are recognizing that this is probably the BEST time to get their homes on the market so as not to contend with the growing competition that generally happens in the March time frame. Myself, I listed 2 homes last week and have 2 others that are coming on the market the week after Christmas. Typically, these sell higher and faster than at other times of the year based on the supply and demand theory. The demand is high and there is limited supply.
Other Sellers, looking further ahead are calling to see what they need to do in the next few months in order to maximize their return when they put their homes on the market later in the season. I am always glad to meet with these motivated and well informed Sellers to help them to prioritize their fix up ideas.
ALL economists are predicting a huge real estate market in 2020. They predict 5.6 million existing homes and 750,000 new homes will sell this coming year which will be the fourth best selling season in US history. Millennials, who make up 46% of our current buying market, are out there ready to take advantage of the predicted level mortgage rates. Baby boomers who may still be working and not ready to move south are recognizing that a small, more efficient home may enhance the quality of their lives.
The best time to buy or sell is WHEN YOU ARE READY. Call me now to discuss options for now and in the future. Your housing choice is a large part of your lifestyle happiness. I always say that if the only time we helped clients move was May- September, I would be in Florida about now. You will see my car at my office from dawn til dusk even now. Buyers are buying and Sellers are selling.