Blogs

Welcome to spring! According to data from realtor.com, the median list price of for-sale homes in the United States rose to $280,000 in March, breaking the record of $275,000 set last July. The record-setting report is perhaps unsurprising, considering the historically-low inventory that has plagued the housing market for the last several years.

In today's housing market, where strong price growth has become the norm, many potential sellers are having the same thought: "I don't want to lose out on profit by selling my home too early". These home owners believe that, by holding out for a few extra months, they will be able to add thousands of extra dollars to their bank account. While this may seem like a tempting proposition, Realtor.com recently pointed out three flaws in this thinking. In reality, there is little reason to be overly concerned with the timing of your sale within the current market as long as it fits your personal timeline.

As a lack of inventory drives home prices higher and higher, builders are continuing to ramp up the number of new homes under construction in the U.S. In fact, January saw housing starts jump by 9.7% compared to December and building permits increase by 7.4% compared to December! While these numbers are encouraging, there is still plenty of progress to be made before inventory return to normal levels.