Buyer Traffic is Even Stronger Now then Last Spring
Why the ALL CAPS and Exclamation points? The North Ft. Worth, Keller and Trophy Club market has been on fire for home sellers for a few years now. But now that the final numbers for the 2017 area housing market are in, one thing is clear: It's time to list your house.
How did we wrap up in 2017?
- New-home sales were at their highest level in a decade.
- Sales of previously owned homes were at their highest level in more than a decade.
- Starts of single-family homes were their strongest in 10 years. Plus new home permit applications grew 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.”
The National Association of Realtors SentriLock buyer traffic report is stronger this winter than it was during the spring buying season last year.
A severe lack of houses to buy (inventory) is a real problem for area home buyers. A full 6 months of inventory is considered a balanced market, where prices are steady and not forced up by low supply. Right now, most every neighborhood in Keller, Trophy Club, North Richland Hills and surrounding areas are below even 4 months supply of homes for sale.
With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Call me and let’s get together to see whether that is the case in your neighborhood. You may even be able to beat the rising interest rates to get into your dream home before you're priced out of it.