They say buy a home before the window of opportunity closes!
We had an enlightening conversation with one of our favorite relocation Realtors®, Harry Salzman. Why do we love chatting with Harry? Honesty and Insight! Here’s what Harry had to say.
The Wall Street Journal reported rising home sales as a healthy sign of a recovering housing market! Sales of previously owned homes in the U.S. rose in January to the highest level in nearly two years and the inventory of unsold homes contracted to a level considered healthy by economists, positive signs for the housing market. Compared with January a year ago, the WSH reported home sales rose 0.7%. ”We’re slowly improving for the right reasons: more jobs, more credit availability and affordability of homes,” said Stuart Hoffman, chief economist with PNC Financial Services Group.
The Daily Real Estate News (from data received from Realtor.com) reported home sellers are facing less competition compared to a year ago, that inventory of for-sale homes has dropped by about 23 percent compared to this time last year, and homes for sale have fallen by 6 percent alone from December 2011 to January 2012.
Realtor.com reports the median sales price is on the rise – up nationally more than 3 percent year-over-year!
Existing home sales rose again in January and inventory is down according to Real Estate Trends. Existing-home sales rose in January, marking three gains in the past four months, while inventories continued to decrease, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said strong gains in contract activity in recent month’s show buyers are responding to very favorable market conditions – pent-up household formation, record-low mortgage interest rates, bargain home prices, sustained job creation and rising rents.
So what’sthe message that we want our followers to take away?
If you are a Seller, consider putting your home back on the market ASAP! With inventories falling, you won’t have as much competition and your home will attract more attention!
If you are a Used Home Buyer, the window of opportunity for purchasing a home at incredible prices with excellent selection and low interest rates is closing!
If you are a Brand New Home buyer (wanting to take advantage of prices, selection and interest rates) be sure to visit Campbell Homes for your new Colorado Springs Home. Our high performance Colorado Springs homes are located in the finest locations and master planned Colorado Springs Communities with the best schools in Colorado Springs.
Campbell Homes models are open daily to 5 p.m. For additional information visit our virtual sales office at www.CampbellHomes.com.