Seller’s Market Developing As Home Seller’s Take Heart In Encouraging 2013 Price Gains
You have an existing home for sale in Portland, OR, but you’ve been reluctant to place it on the market through a real estate agent. With everything that you’ve been hearing about the real estate market collapsing, you aren’t sure that you would get a price that helps you stay out of the red. You may still have an existing mortgage to pay off, or would like to recover some of the costs of remodeling that the home needed to entice buyers.
January 2013 Home Sales Show Benefits To Sellers As Prices Are On The Rise
According to current statistical reports developed by the National Association of Realtors (NAR), January home sales held steady, encouraging sellers to raise home prices despite the limited amount of housing inventory. A seller’s market is developing as sellers are getting multiple bids for their homes, as they can raise their prices steadily to gain a modest profit.
What is making a major impact on the current real estate market for areas such as Northeast, Southeast, Northwest, Southwest Portland – is the housing inventory. There is more demand than supply, as the number of buyers has increased while the number of sellers are holding steady.
When more inventory hopefully appears in the area, the real estate market will improve and stabilize. As for sellers who have homes available, they are finding buyers and closing deals on their homes four weeks faster than normal.