Housing Market Picking up Steam

Good news if you are thinking about selling your home. Home prices are increasing and buyers are gaining the confidence they need to take the step toward home ownership.

Realtor.com showed in it’s April data that the US housing market is recovering and in fact it is “picking up steam” since March. Inventory in April was up 4.12 percent and home list prices increased 2.63 percent. Homes are on the market across the country approximately 81 days which is about 11 percent less than in April 2012.

The job market is picking up which gives potential home buyers more confidence and that is driving sales. The demand for homes is creating higher prices since the inventory of homes is near a record low. According to a report in the May 27-28 Real Estate edition of the Daily Record, April showed “the total number of single-family homes, condos, townhomes and co-ops for sale in the US increased by 4.12 percent month-over-month.” However the inventory of homes decreased by 13.54 percent.

Our office in Conway, Arkansas has seen activity to verify this information. Buyers looking for houses have less choices and some houses are seeing multiple offers. Sellers are seeing good traffic on their listings and homes that are priced for the market and in “show ready” condition are selling quickly.

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