Strong March Home Sales, Low Inventory Means Tougher Market for Buyers, Easier for Sellers

 

As we spring into peak home-buying season home sale prices continue to rise, according to this month's RE/MAX National Housing Report. 

 

The inventory of homes available to buy dropped below 3 months for the first time in the history of the report, indicating a market that greatly favors sellers, as six months is considered a balanced market.

 

Buyers, this doesn't mean you can't find - and buy - your dream home. We’re still helping people get the right home at the right price - it just requires more creativity and tenacity.

 

Homes continued selling faster last month, with the average Days on Market dropping to 64, compared to 68 in February 2017 and 71 in March 2016. 

 

“We expect a seasonal uptick in sales this time of year and March certainly met and somewhat exceeded that expectation,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “We don’t anticipate the tightening inventory to ease up in most markets until new home construction can catch up to its pre-recession pace. Until then, sellers will enjoy a fast-paced market and buyers will need to work with their agents to get in the right home.” To read the April 2017 Housing Report in its entirety, click here.

 

At RE/MAX Flagstaff our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585.

 

 

 

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Monday, 20 November 2017

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