Sitting on the fence about whether or not you should put your home on the market?
This may change your mind: across the country — including here in the Northeast — buyers are out in full force.
According to the latest ShowingTime Showing Index,: “Home showing activity was up again nationwide with a 4.6 percent rise in traffic, as the traditionally slow fall season began with a marked boost in buyer interest.”
Buyers clearly have the right idea, as mortgage rates have dropped over a full percentage point since the fall of 2018. They’ve hovered in a historically low range since this summer, making the overall cost of homeownership significantly more attractive and affordable.
Here’s the breakdown of how ShowingTime reports current buyer traffic patterns across the country:
“The West Region, which until August had experienced 18 consecutive months of flagging home buyer traffic, lead the four regions in year-over-year improvement with an 8.9 percent increase in buyer activity.
The South followed with a 6.4 percent increase, the largest such improvement in the region since April 2018, with the Northeast Region’s 5.6 percent increase the next largest among the four regions.
The Midwest’s more modest 0.8 percent year-over-year growth rounded out the nation’s promising month.”
Our experience on Cape is in line with the national trends. Open houses are busy and buyers are ready to make decisions.
If you’re thinking of waiting until spring to sell, think again! This might sound crazy, but this is a great time of year to market your home. Our houses never look better than they do at the holidays. Buyers are serious and have the same holiday demands that you do putting a strong emphasis on cooperation on both sides.
We’d be happy to meet with you to discuss your options. Just contact us via the comment section or by calling 508-568-8191. Thanks.
We’ve teamed up with our colleagues at industry resource Keeping Current Matters (KCM) to create a webpage that contains both articles and videos about the real estate market.
Just posted on Real Estate with MARI AND HANK SENNOTT is an article explaining why the current economic situation will not lead to a housing crisis similar to the one in 2008.
Too many talking heads are predicting the worst for the housing market. These self described experts are looking at the availability of mortgages as a sign of trouble. Please read the article linked here to see why they’re not correct.
Home prices are predicted to rise in 2020. Putting off buying and/or selling will only cost you more if you wait.
Enjoy your week…
Mari and Hank