The price
of any item (including residential real estate) is determined by the theory of
‘supply and demand.’ If many
people are looking to buy an item and the supply of that item is limited, the
price of that item increases.
The supply of
homes for sale dramatically increases every spring, according to the National
Association of Realtors (NAR). As an example, here is what happened to
housing inventory at the beginning of 2018:
Putting
your home on the market now, rather than waiting for increased competition in
the spring, might make a lot of sense.
Bottom Line
Buyers
in the market during the winter are truly motivated purchasers and they want to
buy now. With limited inventory currently available in most markets, sellers
are in a great position to negotiate.
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