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    Thinking of Selling? Now May Be The Time.

    Thinking of Selling? Now May Be the Time.

    Thinking of Selling? Now May Be the Time. | MyKCM

    The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019, according to Freddie Mac, was 3.94%. Today that rate is closer to 3.5%.

    The Census Bureau also just reported the highest homeownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives.

    According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is strong. That’s not the case, however, with seller demand, which remains weak throughout most of the nation. Here’s a breakdown by state:Thinking of Selling? Now May Be the Time. | MyKCMDemand for housing is high, but supply is extremely low. NAR also just reported that the actual number of homes currently for sale stands at 1.42 million, which is one of the lowest totals in almost three decades. Additionally, the ratio of homes for sale to the number purchased currently stands at 3.1 months of inventory. In a normal market, that number would be nearly double that at 6.0 months of inventory.

    What does this mean for buyers and sellers?

    Buyers need to remain patient in the search process. At the same time, buyers must be ready to act immediately once they find the right home.

    Sellers may not want to wait until spring to put their houses on the market. With demand so high and supply so low, now is the perfect time to sell your house for the greatest dollar value and the least hassle.

    Bottom Line

    The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.

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    Judie Crockett

    “I just love this business and can’t wait to get to work in the morning. I’ve been blessed with finding a career that really lights my fire. It’s my life and I think it shows in how I approach the business . I not only love what I do but deeply care about every one of the many people I’ve helped and continue to help over these many years.” Judie is simply “The Best” having earned the reputation as being Northeast Ohio’s Leading Realtor, helping over 2,000 families’ dreams come true. A Lake County native, Judie entered real estate in 1978 quickly rising to the top in the industry through her enthusiasm, energy and passion for the business. Nationally recognized for her expertise, Judie is one of the best marketing people in the business – which she feels gives her clients a definite advantage in the market.

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