Some Highlights:A trend that has been emerging for some time now is the contrast between inventory & demand in the Premium & Luxury Markets vs. the Starter & Trade-Up Home Markets and what that’s,
If Youre Considering Selling ACT NOW
Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!
How did we finish 2017?
New-home sales were at their highest level in a decade.
Sales of previously owned homes were at their highest level in more than a decade.
Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.
And Bloomberg Business just reported:
“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.”
And the National Association of Realtors revealed that buyer traffic is stronger this winter than it was during the spring buying season last year.
The only challenge to the market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is less than a four-month supply of inventory. This represents a decrease in supply of 9.7% from the same time last year.
With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Let’s get together to see whether that is the case in your neighborhood.
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West Bloomfield Twp - Town vs. County StatsAvg Price in West Bloomfield Twp: $603,300/Co. Avg $542,40056%Avg Taxes in West Bloomfield Twp: $7,200/Co.. Avg $5,00072%Avg Sq. Ft. in West
There is no doubt that the price of a home in most regions of the country is greater now than at any time in history. However, when we look at the cost of a home, it is cheaper to own today than it