The National Association of Realtors said that December sales of previously-owned homes came in just slightly below November's sales pace, but up 12.8% from a year ago. That brought full-year sales to 4.65 million, up 9% from 2011 and the best year for home sales since 2007, when there were 5 million homes sold just before the start of the recession.
Sales are being helped by a combination of strong market fundamentals -- near record low mortgage rates, lower unemployment and a rebound in home prices, all of which are bringing in buyers into the market who had been waiting for it to hit bottom. The mortgage rates and years of depressed home prices have also combined to create the most affordable housing market on record, according to the Realtors group.
The balanced Real Estate market is security for both home sellers and home buyers. My recommendation for home sellers is to list your property in early spring prior to peak season, when everyone typically puts their house on the market and inventory builds. Listing early will give you a market advantage and will position your home by driving demand and price to the current buyers in the market. My advice to home buyers is simple, this is the market you have been waiting for!
My services include complete Market Analysis and full client representation from the listing/offer to the closing. Contact me today, for all of your Real Estate needs.
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Coldwell Banker Residential Brokerage