4 Key Signs Indicate a Stable Housing Market (yes, even in an election year)

With the election only a month away, I find many clients wonder…is this the right time to buy or sell my home?

Let’s take a look at the past year with data from the Realtor® MLS database.

  1. Price increases are steady.  Over the past 12 months, the median list price has been rising steadily.
  2. The number of days on market remains steady, decreasing slightly.  Both of these factors indicate we are heading towards a Sellers market.

price-to-dom-sept-2016

3. Inventory has remained stable, fluctuating between a 3 to 4 month supply of homes for sale.

4. The number of sales has been consistent (Oct numbers are not in yet).

inventory-vs-sales-sept-2016

Prices are creeping up, and buyers that were looking in the Spring can certainly see (and feel) the price increase when searching for a home.  They might need to be in that next price category to get the same type of home.

Interest rates will go up after the election.  No doubt about it.  Prepare now whether you plan to buy or sell this Fall or Spring 2017.  And always feel free to contact me about your specific real estate needs.  Happy to help you or your friends and family!

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Vicki Simons ~ 702-266-7193 ~ www.GetVegasHomes.com ~ vicki@getvegashomes.com

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