It's currently a great time to sell your home in a high demand / low supply market. Buyers are plenty and homeowners are benefiting. However, if you're considering waiting to place your home on the market, you may find that there is more competition coming your way in the form of newly constructed homes. This may put an end to the limited inventory and change the current of the market for home sellers in big ways.
According to the latest report from the National Association of Realtors (NAR), the forecast for new housing starts and sales will increase significantly over the next two years:
- NAR is forecasting 1.1 million new housing starts in 2015, jumping to 1.4 million in 2016.
- New home sales are projected to increase from the 437,000 in 2014 to 570,000 this year and 720,000 in 2016.
Bottom line - New construction is on the rise and NOW may be your best time to sell!
We would love to help with your real estate needs! Please give us a call at (330) 649-5540.
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