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What Recent Statistics Indicate About Selling Your
Monday, June 24, 2013
Selling your home is a big decision that can be affected by many factors. Some people hold out to get the best price. Others need to make a quick sale to relocate for career, family concerns or health issues. Recent home sales data indicate that the real estate market is making gains across the board. Many people are asking, “Who can sell my house fast so I can take advantage of this current fast-paced market?”Home Sales 2013Figures by national real estate agencies indicate that the United States is seeing a revival in the housing market, with increases in sales across the board. The slow down by the large number of foreclosed homes is largely over, particular in those states that were hardest hit by the mortgage crisis that hit the nation in 2008. The crisis caused a halt to new construction as these homes were gradually sold off from the marketplace. Historically low interest rates are also fueling the interest of buyers. Fortunately, recent figures show that home inventory is rising again, with May 2013 figures coming in 5.2 percent higher over the previous month. Prices are also increasing, an estimated 2.1 percent higher than in April. Buying is expected to continue with low interest rate mortgages. Decreasing ForeclosuresFueling the rise in home sales and prices is the decreasing number of foreclosures across the country. RealtyTrac.com notes that April 2013 foreclosure filings, bank repossessions and scheduled auctions decreased 5 percent from the previous month, down a total of 23 percent compared to April 2012. With fewer foreclosed homes on the market, homeowners are now able to consider listing their properties at a fair price. This has caused a small increase in inventories, better pricing and more choices for home buyers.
New ConstructionThe U.S. Department of Housing and Urban Development notes that housing starts for May of 2013 for new construction were up 28.6 percent over May 2012 figures. These numbers have improved significantly, indicating that the construction slump associated with the mortgage crisis and recession are beginning to turnaround. This circumstance shows a better outlook for housing in general in the future, particularly if interest rates for home borrowing remain low. We buy houses to allow people to get their equity out of their home and move to a new phase of their lives. If you are wondering who can sell my house fast for the best price, consider our service. We buy houses can assure a fast process to expedite your home selling or buying process.