If you’ve thought at all about selling your house, there are three recent developments that make this spring a great time to do so.
For one, mortgage rates have stabilized. The 30-year fixed mortgage rate spiked after the election at a high of 4.31%, but have since stabilized. Despite the increase, they are still near historic lows.
Secondly, jobs are up nationally with an additional 235,000 new jobs in February and 2.3 million added over the past year. This is a good indicator of continued growth of business and consumer confidence.
“Housing inventory is at record lows, driving up prices.”
Finally, housing inventory is a record low. February marked the 100th consecutive month of year-over-year declines in inventory dating all the way back to October of 2008.
All these developments mean that if you’re looking to sell your house in Denver, you’ll be able to do it very quickly. Homes sold in an average of 68 days in February compared to 75 days during February of 2016. You can also expect to sell your home at top price. Strong demand for houses and low supply has caused prices to continue increasing.
If you’re curious what your home is worth or you have any other questions about selling your house, don’t hesitate to give us a call or send us an email. We’re happy to help!
