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A Brief Market Update

We are entering peak home selling season. The months with the highest premiums over asking price are March (8.9%), April (9.2%), May (12.6%), June (10.7%), and July (10%). The five days when sellers are likely to receive the highest premium over asking price all happen during the third and fourth weeks of May. Lastly 5/23 is the day when the premium over list is tops at 18.3%. Buying and controlling real assets, your own home, is one of the best protections against uncertainty.

With the exception of the 2008 recession (which was led by housing), home prices have stayed stable or increased in value in every other recession since the 1960s. A pretty good track record for navigating these waters.

Additionally, the current market conditions show that there is a lot of inventory available for both sale and rent. A surge in new home construction and homeowners putting their homes on the market due to high demand means there are plenty of options to choose from, making it possible for sellers to find and buy or rent a new home that meets their needs and budget.

If you're wondering if this year might be a good time to sell your home, give us a call. We'd love to run the numbers for you and give you an honest assessment. 843-885-8519


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