May 30, 2013

Good News for Sellers: The Housing Market Continues to Pick Up!

It would have been hard to believe last year, but The Columbus Dispatch reports that lately buyers in certain areas have found themselves in bidding wars and same-day sales. Some even put in offers above asking price—which still isn’t always enough to guarantee them the home. The seller’s market in these pockets of Columbus is due to a low housing inventory, which shortens the time a house is on the market and increases the price of the home. While a six month housing supply indicates a balance between buyers and sellers, the Columbus area contains less than a 4.8 month supply. This trend shows no signs of stopping. As of March 2013, home sales had risen for 15 consecutive months. Perhaps even more encouraging, buyer traffic has increased by a quarter in the past year.

The bottom line:
Buyers—move quickly
Potential sellers—now’s the time! See how I can help.