According to the National Association of Realtors, properties last month typically sold in a record low time of 18 days and 80% of all homes sold in March were on the market for less than a month!
If you are looking to sell, this is great news as the low inventory means listing prices have continued to increase. And with interest rates still very low (but expected to rise this year), it’s also a great time to buy.
A lot of people ask, “should I wait out this hot market?” This story gives some good rationale about why that isn’t the best idea. And if you’re worried about the housing market crashing, here’s a good analysis about why another crash is unlikely.
We’d be happy to help with solid advice to get you through to closing and into your next new home! We have lots of buyers in need of townhomes and single family homes in St. Paul, Minneapolis, Twin Cities suburbs, and WI. Let us know how we can serve you!