Are you ready to sell your house? Demand for housing is picking up and housing analysts are pointing to lower mortgage rates as the main reason. The spring buying season may be coming early.
Spring has sprung early, as buyers hope to get a quick deal before rates turn higher again.
After ending 2018 in a serious slump, demand for housing is suddenly soaring again, thanks to a drop in mortgage rates that could be temporary.
Mixed with the lower rates, home prices are slowing too. Home prices in December were up 4.7 percent annually, the smallest gain in more than six years.
By completing a Loan Pre-Qualification you'll be on your way to locking in your interest rate and giving assurance to prospective sellers that you mean business.
When you see those numbers coming down, you want to go, ‘OK, this is the time to buy,’” Celena Vittorio, a home shopper in the Dallas area, told CNBC. “
You certainly don’t want to buy at the top of the market.”
Also in buyers’ favor recently, the share of homes with price cuts increased in January. The share of price reductions increased in 39 of the 50 largest markets. The most expensive markets saw the largest price cuts.
Real estate pros like Carriene Porter at Precision Realty & Associates are responding to the increase in traffic by trying to get the homes that were going to wait to list until the spring ready to go to the market earlier.
Buyers are taking advantage of the price reductions and lower mortgage rates. “We don’t want to miss that opportunity, so we’re trying to get busy with our listings and start getting our listings on the market early” says Carriene Porter a real estate professional. Are you ready to sell your house? CALL 801-809-9866 today or visit us at Precision Realty & Associates we're here to help.
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