Definitely an bold headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!
How did we finish 2017?
1- New-home sales were at their highest level in a decade.
2- Sales of previously owned homes were at their highest level in more than a decade.
3 - Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.
And Bloomberg Business just reported:
“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.”
And the National Association of Realtors revealed that buyer traffic is stronger this winter than it was during the spring buying season last year.
The only challenge to the market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is less than a four-month supply of inventory. This represents a decrease in supply of 9.7% from the same time last year.
Thinking of buying or selling a home in Orland Park, Naperville, Homer Glen or the southwest and west suburbs?
Working with The Glockler Group makes all the difference. For more information, click here for a short video.